FinWise Bancorp (NASDAQ:FINW) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

FinWise Bancorp (NASDAQ:FINW) released its quarterly earnings results on Monday. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05, Yahoo Finance reports. The company had revenue of $23.11 million during the quarter, compared to analysts’ expectations of $19.68 million. FinWise Bancorp had a return on equity of 11.20% and a net margin of 18.63%. During the same quarter in the prior year, the firm posted $0.29 EPS.

FinWise Bancorp Stock Down 0.9 %

FINW stock opened at $10.51 on Thursday. FinWise Bancorp has a 52 week low of $7.61 and a 52 week high of $14.98. The firm has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $11.20. The stock has a market capitalization of $134.42 million, a P/E ratio of 8.15 and a beta of 0.71.

Analyst Ratings Changes

Separately, Piper Sandler increased their target price on FinWise Bancorp from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th.

About FinWise Bancorp

FinWise Bancorp operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah. The company offers various deposit products, including interest and noninterest bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits.