FinWise Bancorp (NASDAQ:FINW) Shares Down 0.3% - Here's What Happened

Key Points

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FinWise Bancorp (NASDAQ:FINW - Get Free Report) was down 0.3% during mid-day trading on Monday . The stock traded as low as $18.25 and last traded at $18.45. Approximately 8,235 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 19,194 shares. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen raised shares of FinWise Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Hovde Group decreased their price objective on shares of FinWise Bancorp from $19.00 to $18.50 and set an "outperform" rating for the company in a report on Thursday, May 1st. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $20.88.

FinWise Bancorp Price Performance

The stock has a market capitalization of $260.94 million, a P/E ratio of 19.90 and a beta of 0.82. The business's 50 day simple moving average is $16.43 and its 200-day simple moving average is $16.38.

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

Hedge Funds Weigh In On FinWise Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its position in FinWise Bancorp by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 87,661 shares of the company's stock valued at $1,401,000 after acquiring an additional 1,013 shares during the period. Empowered Funds LLC increased its position 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 acquiring an additional 1,591 shares during the period. BNP Paribas Financial Markets acquired a new position in FinWise Bancorp in the 2nd quarter valued at approximately $25,000. Geode Capital Management LLC increased its position in FinWise Bancorp by 2.0% in 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 during the period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in FinWise Bancorp in the 2nd quarter valued at approximately $31,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.