FinWise Bancorp (NASDAQ:FINW) Given New $18.50 Price Target at Hovde Group

FinWise Bancorp (NASDAQ:FINW - Free Report) had its target price reduced by Hovde Group from $19.00 to $18.50 in a research note released on Thursday, MarketBeat reports. Hovde Group currently has an outperform rating on the stock.

FINW has been the subject of several other reports. Stephens lifted their target price on FinWise Bancorp from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Piper Sandler boosted 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.

FinWise Bancorp Stock Performance

Shares of NASDAQ FINW traded down $0.37 during mid-day trading on Thursday, hitting $13.66. 24,892 shares of the stock were exchanged, compared to its average volume of 19,005. FinWise Bancorp has a twelve month low of $10.02 and a twelve month high of $20.94. The stock's fifty day simple moving average is $16.33 and its two-hundred day simple moving average is $17.13. The company has a market cap of $180.45 million, a P/E ratio of 14.53 and a beta of 0.86.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $22.38 million. FinWise Bancorp had a net margin of 13.23% and a return on equity of 7.67%. As a group, equities research analysts predict that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Institutional investors have recently made changes to their positions in the stock. Barclays PLC acquired a new position in shares of FinWise Bancorp during the 3rd quarter worth about $47,000. Bank of America Corp DE increased its stake in FinWise Bancorp by 4,847.1% in the fourth quarter. Bank of America Corp DE now owns 3,463 shares of the company's stock valued at $55,000 after purchasing an additional 3,393 shares in the last quarter. Citadel Advisors LLC acquired a new stake in FinWise Bancorp in the fourth quarter worth $175,000. PFG Investments LLC acquired a new position in shares of FinWise Bancorp in the 1st quarter valued at $179,000. Finally, Jane Street Group LLC bought a new stake in shares of FinWise Bancorp in the 4th quarter valued at $197,000. 35.41% of the stock is owned by institutional investors and hedge funds.

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.