Goldman Sachs Group Inc. Acquires 26,115 Shares of FinWise Bancorp $FINW

Key Points

• Goldman Sachs Group Inc. increased its stake in FinWise Bancorp by 186.3%, acquiring an additional 26,115 shares to total 40,136 shares.
• Wall Street analysts have upgraded FinWise Bancorp's rating from "sell" to "hold", with a consensus price target of $20.88 and four analysts rating it as a Buy.
• FinWise Bancorp recently reported earnings of $0.29 per share, exceeding consensus estimates of $0.22 and achieving a revenue of $25.07 million for the quarter.

Goldman Sachs Group Inc. lifted its stake in FinWise Bancorp (NASDAQ:FINW - Free Report) by 186.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,136 shares of the company's stock after buying an additional 26,115 shares during the period. Goldman Sachs Group Inc. owned approximately 0.30% of FinWise Bancorp worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of FinWise Bancorp by 4,847.1% during 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 during the period. Cubist Systematic Strategies LLC bought a new stake in FinWise Bancorp during the first quarter worth about $104,000. Citadel Advisors LLC bought a new stake in FinWise Bancorp during the fourth quarter worth about $175,000. PFG Investments LLC acquired a new stake in FinWise Bancorp during the first quarter worth about $179,000. Finally, Jane Street Group LLC bought a new position in FinWise Bancorp in the 4th quarter valued at about $197,000. Institutional investors own 35.41% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of FinWise Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $20.88.

FinWise Bancorp Trading Down 0.5%

Shares of NASDAQ FINW opened at $20.79 on Thursday. The company has a market cap of $281.08 million, a price-to-earnings ratio of 21.43 and a beta of 0.83. FinWise Bancorp has a 12 month low of $13.48 and a 12 month high of $22.49. The stock has a 50-day moving average price of $18.67 and a two-hundred day moving average price of $16.44.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.07. The company had revenue of $25.07 million for the quarter, compared to the consensus estimate of $22.36 million. FinWise Bancorp had a net margin of 12.72% and a return on equity of 7.70%. On average, sell-side analysts predict that FinWise Bancorp will post 1.03 earnings per share for the current year.

FinWise Bancorp Company Profile

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.

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