Alliancebernstein L.P. Reduces Position in FinWise Bancorp $FINW

Alliancebernstein L.P. trimmed its stake in FinWise Bancorp (NASDAQ:FINW) by 17.7% in the 1st quarter, HoldingsChannel reports. The firm owned 810,266 shares of the company’s stock after selling 174,519 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of FinWise Bancorp worth $14,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in FinWise Bancorp in the first quarter worth about $104,000. Andina Capital Management LLC purchased a new stake in FinWise Bancorp in the 1st quarter worth approximately $805,000. Tempus Wealth Planning LLC bought a new position in shares of FinWise Bancorp in the first quarter worth approximately $491,000. PFG Investments LLC purchased a new stake in shares of FinWise Bancorp in the first quarter worth $179,000. Finally, Millennium Management LLC purchased a new stake in shares of FinWise Bancorp in the fourth quarter worth $679,000. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded FinWise Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, FinWise Bancorp currently has an average rating of “Buy” and an average price target of $20.88.

FinWise Bancorp Stock Up 2.5%

FinWise Bancorp stock opened at $19.64 on Friday. FinWise Bancorp has a 52-week low of $13.48 and a 52-week high of $20.94. The firm’s fifty day moving average is $17.81 and its 200 day moving average is $16.35. The company has a market cap of $265.53 million, a price-to-earnings ratio of 20.25 and a beta of 0.83.

FinWise Bancorp (NASDAQ:FINW) last posted its earnings results on Thursday, July 24th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $25.07 million for the quarter, compared to the consensus estimate of $22.36 million. FinWise Bancorp had a net margin of 12.72% and a return on equity of 7.70%. On average, equities research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

FinWise Bancorp Company Profile

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.