FinWise Bancorp (FINW) Tops Q2 Earnings Estimates

Core Viewpoint - FinWise Bancorp has shown mixed performance in its recent earnings report, with a notable earnings surprise but a revenue miss compared to consensus estimates [1][2][4]. Financial Performance - The company reported quarterly earnings of $0.24 per share, exceeding the Zacks Consensus Estimate of $0.17 per share, but down from $0.35 per share a year ago [4]. - Revenues for the quarter ended June 2024 were $19.45 million, slightly missing the Zacks Consensus Estimate by 0.19%, and up from $18.96 million in the same quarter last year [2]. - Over the last four quarters, FinWise Bancorp has surpassed consensus EPS estimates four times [5]. Stock Performance - FinWise Bancorp shares have declined approximately 17% since the beginning of the year, contrasting with the S&P 500's gain of 13.8% [3]. - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [9]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $19.98 million, and for the current fiscal year, it is $0.81 on revenues of $79.63 million [10]. - The trend for earnings estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [9]. Industry Context - The Banks - Southwest industry, to which FinWise Bancorp belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a relatively strong position within the sector [11].