FinWise Bancorp (NASDAQ:FINW) Coverage Initiated by Analysts at Hovde Group

Hovde Group began coverage on shares of FinWise Bancorp (NASDAQ:FINW - Free Report) in a report issued on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $19.00 target price on the stock.

A number of other analysts have also recently issued reports on the company. Piper Sandler increased their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Raymond James started coverage on shares of FinWise Bancorp in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $21.00 price objective for the company. Finally, Stephens upped their target price on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, January 31st.

FinWise Bancorp Stock Up 1.4 %

FinWise Bancorp stock traded up $0.20 during midday trading on Monday, reaching $14.73. The stock had a trading volume of 21,970 shares, compared to its average volume of 19,627. The firm has a market capitalization of $194.67 million, a PE ratio of 15.67 and a beta of 0.84. FinWise Bancorp has a 12 month low of $9.93 and a 12 month high of $20.94. The firm's 50-day moving average price is $17.34 and its 200 day moving average price is $17.17.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). FinWise Bancorp had a net margin of 13.23% and a return on equity of 7.67%. Equities research analysts expect that FinWise Bancorp will post 1.03 EPS for the current year.

Institutional Investors Weigh In On FinWise Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC purchased a new stake in shares of FinWise Bancorp during the third quarter valued at approximately $47,000. Bank of America Corp DE boosted its position in 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 buying an additional 3,393 shares during the period. Citadel Advisors LLC bought a new stake in FinWise Bancorp in the 4th quarter worth $175,000. Jane Street Group LLC purchased a new position in shares of FinWise Bancorp in the fourth quarter valued at about $197,000. Finally, Northern Trust Corp raised its stake in shares of FinWise Bancorp by 24.2% during the fourth quarter. Northern Trust Corp now owns 16,296 shares of the company's stock valued at $260,000 after acquiring an additional 3,179 shares during the last quarter. Institutional investors own 35.41% of the company's stock.

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.