FinWise Bancorp (NASDAQ:FINW) Trading Down 0.3% - Should You Sell?

Key Points

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FINW. Hovde Group decreased their price target on FinWise Bancorp from $19.00 to $18.50 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded FinWise Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.88.

FinWise Bancorp Price Performance

The firm has a 50 day simple moving average of $16.10 and a two-hundred day simple moving average of $16.37. The stock has a market cap of $249.44 million, a price-to-earnings ratio of 19.02 and a beta of 0.82.

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 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 return on equity of 7.70% and a net margin of 12.72%. On average, sell-side analysts expect that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

A number of hedge funds have recently modified their holdings of the business. US Bancorp DE raised its position in shares of FinWise Bancorp by 22.2% during the second quarter. US Bancorp DE now owns 429,048 shares of the company's stock worth $6,440,000 after purchasing an additional 78,000 shares during the period. Geode Capital Management LLC raised its position in shares of FinWise Bancorp by 109.3% during the second quarter. Geode Capital Management LLC now owns 204,323 shares of the company's stock worth $3,068,000 after purchasing an additional 106,683 shares during the period. Siena Capital Partners GP LLC raised its position in shares of FinWise Bancorp by 20.6% during the first quarter. Siena Capital Partners GP LLC now owns 137,123 shares of the company's stock worth $2,401,000 after purchasing an additional 23,405 shares during the period. Susquehanna International Group LLP raised its position in shares of FinWise Bancorp by 155.2% during the fourth quarter. Susquehanna International Group LLP now owns 123,044 shares of the company's stock worth $1,966,000 after purchasing an additional 74,821 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of FinWise Bancorp by 2.7% during the second quarter. Bridgeway Capital Management LLC now owns 92,706 shares of the company's stock worth $1,392,000 after purchasing an additional 2,454 shares during the period. Institutional investors and hedge funds own 35.41% of the company's stock.

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.

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