Finwise Bancorp reports results for the quarter ended in March - Earnings Summary

Finwise Bancorp

30/04/2024 03:23

* Finwise Bancorp  FINW.OQ  reported quarterly adjusted
earnings
of 25 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of 29 cents.  The mean expectation of two analysts for the
quarter was for earnings of 23 cents per share. Wall Street
expected results to range from 20 cents to 26 cents per share.
    * Revenue fell 83.1% to $2.82 million from a year ago;
analysts
expected $19.57 million. 
    * Finwise Bancorp's reported EPS for the quarter was 25
cents​.
    * The company reported quarterly net income of $3.32
million.
    * Finwise Bancorp shares had risen by 6.0% this quarter and
lost 25.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 2 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "buy."

Wall Street's median 12-month price target for Finwise Bancorp
is $13.50 
This summary was machine generated from LSEG data April 30 at
02:23 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.23           0.25           Beat
 Dec. 31 2023      0.31           0.32           Beat
 Sep. 30 2023      0.24           0.37           Beat
 Jun. 30 2023      0.18           0.36           Beat