FinWise Bancorp (NASDAQ:FINW) Coverage Initiated by Analysts at Hovde Group

Hovde Group initiated coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a report published on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $19.00 price target on the stock.

A number of other analysts also recently issued reports on FINW. Raymond James began coverage on FinWise Bancorp in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price target for the company. Stephens raised their target price on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Piper Sandler upped their price target on shares of FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, January 31st.

FinWise Bancorp Stock Up 3.6 %

FinWise Bancorp stock opened at $14.29 on Monday. FinWise Bancorp has a twelve month low of $9.56 and a twelve month high of $20.94. The company’s 50-day moving average price is $17.78 and its 200-day moving average price is $17.22. The company has a market cap of $188.86 million, a PE ratio of 15.20 and a beta of 0.84.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). FinWise Bancorp had a net margin of 13.23% and a return on equity of 7.67%. As a group, sell-side analysts expect that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of FinWise Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC bought a new stake in FinWise Bancorp during the 3rd quarter valued at about $47,000. Bank of America Corp DE raised its stake in shares of FinWise Bancorp by 4,847.1% during the fourth quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock valued at $55,000 after acquiring an additional 3,393 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of FinWise Bancorp during the fourth quarter valued at approximately $175,000. Jane Street Group LLC purchased a new stake in shares of FinWise Bancorp in the fourth quarter valued at approximately $197,000. Finally, Northern Trust Corp grew its stake in FinWise Bancorp by 24.2% in the fourth quarter. Northern Trust Corp now owns 16,296 shares of the company’s stock worth $260,000 after purchasing an additional 3,179 shares in the last quarter. 35.41% of the stock is currently owned by institutional investors.

About FinWise Bancorp

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. The company offers various deposit products, including interest and noninterest bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits.