Overview
Utah bank's Q4 loan originations totaled $1.6 bln, up from prior year
Net income for Q4 was $3.9 mln, up from prior year
Net interest income rose to $24.6 mln, driven by credit enhanced balances
Outlook
Company expects continued long-term value delivery for shareholders
FinWise anticipates efficiency ratio improvement due to credit enhanced loan revenues
Result Drivers
SEASONALITY IMPACT - Q4 loan originations decreased from Q3 due to seasonal variations in student loan programs
CREDIT ENHANCED BALANCES - Increase in net interest income driven by growth in credit enhanced balances
HIGHER PROVISION FOR CREDIT LOSSES - Increase due to growth in credit enhanced loan portfolio and conservative servicing standards
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS | $0.27 | ||
Q4 Net Income | $3.90 mln | ||
Q4 Net Interest Income | $24.60 mln | ||
Q4 Loan Loss Provision | -$17.70 mln | ||
Q4 Net Interest Margin | 11.42% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $22.00, about 20.6% above its January 28 closing price of $18.24
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 13 three months ago
Press Release: ID:nGNX7XK9Vg
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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