US Bancorp DE Has $6.44 Million Position in FinWise Bancorp $FINW

Key Points

• US Bancorp DE has increased its holdings in FinWise Bancorp by 22.2%, owning approximately 3.25% of the company, valued at $6.44 million.
• In the latest earnings report, FinWise Bancorp reported $0.29 earnings per share, surpassing analyst expectations of $0.22, with revenues of $25.07 million.
• Analysts have given FinWise Bancorp a consensus rating of "Moderate Buy" with a price target of $20.88, reflecting positive outlook amidst recent institutional investments.

US Bancorp DE increased its holdings in shares of FinWise Bancorp (NASDAQ:FINW - Free Report) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 429,048 shares of the company's stock after acquiring an additional 78,000 shares during the quarter. US Bancorp DE owned about 3.25% of FinWise Bancorp worth $6,440,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its holdings 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 worth $55,000 after acquiring an additional 3,393 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in FinWise Bancorp in the 1st quarter valued at $104,000. PFG Investments LLC bought a new stake in FinWise Bancorp in the 1st quarter valued at $179,000. Empowered Funds LLC boosted its stake in FinWise Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company's stock valued at $421,000 after purchasing an additional 1,591 shares during the period. Finally, Tempus Wealth Planning LLC bought a new stake in FinWise Bancorp in the 1st quarter valued at $491,000. 35.41% of the stock is owned by institutional investors and hedge funds.

FinWise Bancorp Stock Performance

NASDAQ:FINW opened at $18.25 on Monday. The stock has a fifty day moving average price of $19.30 and a 200-day moving average price of $16.58. The company has a market cap of $246.74 million, a price-to-earnings ratio of 18.81 and a beta of 0.82. FinWise Bancorp has a fifty-two week low of $13.48 and a fifty-two week high of $22.49.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its 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 firm had revenue of $25.07 million during the quarter, compared to the consensus estimate of $22.36 million. FinWise Bancorp had a return on equity of 7.70% and a net margin of 12.72%. Research analysts predict that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen upgraded FinWise Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Weiss Ratings restated a "hold (c)" rating on shares of FinWise Bancorp in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.88.

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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