EU and US could reach trade deal this weekend - Reuters
Finwise Bancorp’s stock has reached a remarkable milestone, hitting a 52-week high of $20.93. With a market capitalization of $263 million, this peak reflects a significant surge in the company’s stock value, marking a substantial turnaround from its previous positions within the year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. Investors have shown increased confidence in Finwise Bancorp, as evidenced by the impressive year-to-date return of 24.16% and a remarkable six-month gain of 54.88%. The bank’s performance, with a P/E ratio of 22.18 and consistent profitability over the last twelve months, has garnered attention from both retail and institutional investors, signaling a robust financial position and potential for continued growth. InvestingPro subscribers have access to 8 additional key insights about Finwise Bancorp, including detailed analyst forecasts and financial health scores.
In other recent news, Finwise Bancorp announced its fourth-quarter 2024 earnings, surpassing analysts’ expectations. The company reported an earnings per share (EPS) of $0.20, exceeding the projected $0.19, while its revenue reached $21.13 million, slightly above the anticipated $21.07 million. Finwise Bancorp’s strong performance was attributed to increased net interest income and loan originations. The company also reported a net income of $2.8 million for the quarter, with a full-year EPS of $0.93. Analysts from Piper Sandler noted the company’s continued growth in loan originations, which rose to $1.3 billion in the fourth quarter, contributing to a total of $5 billion for the fiscal year. Finwise Bancorp is planning to introduce 2-3 new lending programs in 2025, with a focus on expanding its credit enhancement product. The company anticipates this product could significantly contribute to its growth, aiming for $50-100 million in enhanced balances by the end of 2025. Additionally, Finwise Bancorp’s strategic initiatives, including its credit enhancement and payments programs, are expected to gradually ramp up throughout the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.