Millennium Management LLC Invests $679,000 in FinWise Bancorp (NASDAQ:FINW)

Millennium Management LLC acquired a new stake in shares of FinWise Bancorp (NASDAQ:FINW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 42,511 shares of the company's stock, valued at approximately $679,000. Millennium Management LLC owned approximately 0.32% of FinWise Bancorp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FINW. Empowered Funds LLC boosted its holdings in shares of FinWise Bancorp by 4.7% during the 4th quarter. Empowered Funds LLC now owns 22,461 shares of the company's stock valued at $359,000 after acquiring an additional 1,013 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of FinWise Bancorp by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 93,428 shares of the company's stock valued at $1,494,000 after acquiring an additional 1,820 shares in the last quarter. Barclays PLC boosted its holdings in shares of FinWise Bancorp by 269.2% during the 4th quarter. Barclays PLC now owns 11,204 shares of the company's stock valued at $179,000 after acquiring an additional 8,169 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of FinWise Bancorp by 58.1% during the 4th quarter. Wasatch Advisors LP now owns 629,399 shares of the company's stock valued at $10,058,000 after acquiring an additional 231,405 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings 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 acquiring an additional 74,821 shares in the last quarter. Institutional investors and hedge funds own 35.41% of the company's stock.

Analysts Set New Price Targets

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

FinWise Bancorp Stock Down 0.1%

FINW traded down $0.02 during midday trading on Friday, hitting $14.55. 11,516 shares of the company were exchanged, compared to its average volume of 19,255. The firm has a market capitalization of $192.28 million, a P/E ratio of 15.48 and a beta of 0.80. FinWise Bancorp has a 1-year low of $10.10 and a 1-year high of $20.94. The firm's 50 day moving average price is $14.75 and its 200-day moving average price is $16.73.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $18.54 million for the quarter, compared to analyst estimates of $22.38 million. FinWise Bancorp had a return on equity of 7.67% and a net margin of 13.23%. On average, sell-side 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.