Hovde Group Forecasts Strong Price Appreciation for FinWise Bancorp (NASDAQ:FINW) Stock

Key Points

• Hovde Group raised its price target for FinWise Bancorp (NASDAQ:FINW) from $20.00 to $22.00, suggesting a potential upside of 25.64% based on the stock's previous close.
• The stock currently holds an average rating of "Moderate Buy" from analysts, with four ratings for Buy and one for Hold, and a consensus price target of $21.75.
• FinWise Bancorp reported earnings of $0.29 per share for the last quarter, exceeding estimates, and had a revenue of $25.07 million, significantly above expectations.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) had its price objective raised by stock analysts at Hovde Group from $20.00 to $22.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm presently has an "outperform" rating on the stock. Hovde Group's target price indicates a potential upside of 25.64% from the stock's previous close.

Several other equities analysts have also issued reports on FINW. Weiss Ratings reiterated a "hold (c)" rating on shares of FinWise Bancorp in a research note on Wednesday, October 8th. Wall Street Zen upgraded FinWise Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, FinWise Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $21.75.

FinWise Bancorp Trading Down 0.2%

NASDAQ:FINW opened at $17.51 on Monday. FinWise Bancorp has a twelve month low of $13.48 and a twelve month high of $22.49. The company has a market cap of $236.74 million, a price-to-earnings ratio of 18.05 and a beta of 0.82. The stock has a fifty day simple moving average of $19.30 and a 200-day simple moving average of $16.62.

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, topping the consensus estimate of $0.22 by $0.07. The business 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%. As a group, equities research analysts predict that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in FinWise Bancorp in the second quarter valued at approximately $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in FinWise Bancorp in the second quarter valued at approximately $31,000. Bank of America Corp DE lifted its holdings in FinWise Bancorp by 3,887.7% in the second quarter. Bank of America Corp DE now owns 2,911 shares of the company's stock valued at $44,000 after acquiring an additional 2,838 shares during the period. JPMorgan Chase & Co. acquired a new position in FinWise Bancorp in the second quarter valued at approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in FinWise Bancorp in the second quarter valued at approximately $74,000. Hedge funds and other 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.

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