Stock Analysis
- United States
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- NasdaqGM:FINW
FinWise Bancorp First Quarter 2024 Earnings: EPS Beats Expectations
FinWise Bancorp (NASDAQ:FINW) First Quarter 2024 Results
Key Financial Results
- Revenue: US$16.3m (up 17% from 1Q 2023).
- Net income: US$3.32m (down 13% from 1Q 2023).
- Profit margin: 20% (down from 27% in 1Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$0.27 (down from US$0.30 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
FinWise Bancorp EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.7%.
Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 2.3% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for FinWise Bancorp that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqGM:FINW
FinWise Bancorp
Operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah.