Analysts Set FinWise Bancorp (NASDAQ:FINW) Price Target at $21.75

Shares of FinWise Bancorp (NASDAQ:FINW) have been given a consensus recommendation of “Moderate Buy” by the four ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.00.

FINW has been the subject of a number of analyst reports. Hovde Group upped their target price on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of FinWise Bancorp in a research report on Monday.

Insider Transactions at FinWise Bancorp

In other FinWise Bancorp news, insider Robert Keil sold 1,500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $19.48, for a total transaction of $29,220.00. Following the completion of the sale, the insider directly owned 56,428 shares of the company’s stock, valued at approximately $1,099,217.44. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Howard I. Reynolds purchased 2,297 shares of the stock in a transaction dated Friday, October 31st. The stock was purchased at an average price of $18.95 per share, for a total transaction of $43,528.15. Following the completion of the acquisition, the director directly owned 38,105 shares in the company, valued at approximately $722,089.75. This represents a 6.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On FinWise Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in shares of FinWise Bancorp during the 2nd quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in FinWise Bancorp during the 2nd quarter valued at about $31,000. Bank of America Corp DE increased its position in FinWise Bancorp by 3,887.7% during the 2nd quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock valued at $44,000 after buying an additional 2,838 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in FinWise Bancorp in the second quarter valued at about $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in FinWise Bancorp in the second quarter worth about $74,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

FinWise Bancorp Stock Performance

NASDAQ FINW opened at $17.85 on Wednesday. FinWise Bancorp has a one year low of $13.48 and a one year high of $22.49. The company has a market capitalization of $242.51 million, a price-to-earnings ratio of 16.83 and a beta of 0.82. The company’s 50-day simple moving average is $18.21 and its two-hundred day simple moving average is $17.70.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.34 earnings per share for the quarter. The firm had revenue of $36.66 million during the quarter. FinWise Bancorp had a net margin of 12.13% and a return on equity of 8.31%. Equities analysts expect that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

About FinWise Bancorp

FinWise Bancorp is the bank holding company for FinWise Bank, a digital‐first community bank headquartered in Lindon, Utah. The company specializes in providing commercial lending and deposit products to marketplace lending platforms, fintech companies and small to mid‐sized businesses across the United States. FinWise Bancorp operates through its wholly owned subsidiary, FinWise Bank, which is FDIC‐insured and leverages a technology‐driven model to deliver banking services efficiently.

The company’s primary business activities include participant financing arrangements for marketplace lenders and other fintech platforms, as well as direct commercial loans.