Millennium Management LLC Takes Position in FinWise Bancorp (NASDAQ:FINW)

Millennium Management LLC purchased a new stake in FinWise Bancorp (NASDAQ:FINW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,511 shares of the company's stock, valued at approximately $679,000. Millennium Management LLC owned approximately 0.32% of FinWise Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in FinWise Bancorp by 58.1% in the 4th quarter. Wasatch Advisors LP now owns 629,399 shares of the company's stock valued at $10,058,000 after purchasing an additional 231,405 shares in the last quarter. Susquehanna International Group LLP grew its stake in shares of FinWise Bancorp by 155.2% during the 4th quarter. Susquehanna International Group LLP now owns 123,044 shares of the company's stock valued at $1,966,000 after buying an additional 74,821 shares during the period. Northern Trust Corp grew its stake in shares of FinWise Bancorp by 24.2% during the 4th quarter. Northern Trust Corp now owns 16,296 shares of the company's stock valued at $260,000 after buying an additional 3,179 shares during the period. 683 Capital Management LLC purchased a new stake in FinWise Bancorp during the 4th quarter worth $310,000. Finally, Citadel Advisors LLC purchased a new position in FinWise Bancorp in the 4th quarter valued at about $175,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Hovde Group cut their target price on shares of FinWise Bancorp from $19.00 to $18.50 and set an "outperform" rating on the stock in a research note on Thursday, May 1st.

FinWise Bancorp Price Performance

Shares of FinWise Bancorp stock traded up $0.08 on Wednesday, hitting $14.63. The company had a trading volume of 38,486 shares, compared to its average volume of 19,387. The company has a market cap of $193.34 million, a PE ratio of 15.56 and a beta of 0.80. FinWise Bancorp has a 52 week low of $10.10 and a 52 week high of $20.94. The business has a 50-day simple moving average of $14.68 and a 200-day simple moving average of $16.67.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last posted 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 return on equity of 7.67% and a net margin of 13.23%. The firm had revenue of $18.54 million during the quarter, compared to analyst estimates of $22.38 million. On average, equities research analysts predict that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

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.