FinWise Bancorp (FINW) Surpasses Q3 Earnings and Revenue Estimates

Core Insights - FinWise Bancorp (FINW) reported quarterly earnings of $0.25 per share, exceeding the Zacks Consensus Estimate of $0.20 per share, but down from $0.37 per share a year ago, indicating a 32.43% year-over-year decline [1] - The company achieved a revenue of $20.82 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.35% and showing a year-over-year increase from $19.64 million [1] - FinWise Bancorp has consistently surpassed consensus EPS estimates over the last four quarters, achieving earnings surprises of 25% and 41.18% in the most recent quarters [1][2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.21, with expected revenues of $20.99 million, while the estimate for the current fiscal year is $0.91 on revenues of $80.46 million [4] - The trend of estimate revisions for FinWise Bancorp is currently favorable, contributing to a Zacks Rank 1 (Strong Buy) for the stock, suggesting expected outperformance in the near future [4] Industry Context - The Banks - Southwest industry, to which FinWise Bancorp belongs, is currently ranked in the top 18% of over 250 Zacks industries, indicating a strong performance potential compared to lower-ranked industries [5] - The broader finance sector includes other companies like Claros Mortgage Trust, Inc. (CMTG), which is expected to report a significant year-over-year earnings increase of 181.3% for the quarter ended September 2024 [5]