Hovde Group Issues Pessimistic Forecast for FinWise Bancorp (NASDAQ:FINW) Stock Price

FinWise Bancorp (NASDAQ:FINW) had its price objective lowered by investment analysts at Hovde Group from $19.00 to $18.50 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has an “outperform” rating on the stock. Hovde Group’s target price would suggest a potential upside of 30.28% from the company’s current price.

Several other analysts have also issued reports on FINW. Stephens increased their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler raised their price target on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

FinWise Bancorp Price Performance

NASDAQ:FINW opened at $14.20 on Thursday. The stock’s 50-day moving average is $16.44 and its two-hundred day moving average is $17.13. The stock has a market cap of $187.67 million, a PE ratio of 15.11 and a beta of 0.84. FinWise Bancorp has a fifty-two week low of $10.02 and a fifty-two week high of $20.94.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). FinWise Bancorp had a net margin of 13.23% and a return on equity of 7.67%. The company had revenue of $18.54 million for the quarter, compared to analysts’ expectations of $22.38 million. On average, equities research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On FinWise Bancorp

A number of large investors have recently bought and sold shares of FINW. Barclays PLC bought a new position in FinWise Bancorp during the third quarter valued at about $47,000. Bank of America Corp DE raised its stake in shares of FinWise Bancorp by 4,847.1% in the 4th 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. PFG Investments LLC acquired a new stake in FinWise Bancorp in the 1st quarter worth approximately $179,000. Citadel Advisors LLC acquired a new stake in FinWise Bancorp in the 4th quarter worth approximately $175,000. Finally, Jane Street Group LLC bought a new stake in FinWise Bancorp during the fourth quarter worth approximately $197,000. 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.