Wasatch Advisors LP Increases Stock Position in FinWise Bancorp (NASDAQ:FINW)

Wasatch Advisors LP boosted its stake in shares of FinWise Bancorp (NASDAQ:FINW - Free Report) by 58.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 629,399 shares of the company's stock after acquiring an additional 231,405 shares during the quarter. Wasatch Advisors LP owned 4.76% of FinWise Bancorp worth $10,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FINW. Geode Capital Management LLC grew its holdings in shares of FinWise Bancorp by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 93,428 shares of the company's stock worth $1,494,000 after purchasing an additional 1,820 shares during the last quarter. Empowered Funds LLC grew its holdings in FinWise Bancorp by 4.7% in the 4th quarter. Empowered Funds LLC now owns 22,461 shares of the company's stock worth $359,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Barclays PLC increased its position in shares of FinWise Bancorp by 269.2% in the fourth quarter. Barclays PLC now owns 11,204 shares of the company's stock valued at $179,000 after acquiring an additional 8,169 shares during the period. 35.41% of the stock is currently owned by institutional investors.

FinWise Bancorp Stock Performance

Shares of FinWise Bancorp stock traded up $0.51 during midday trading on Tuesday, hitting $15.07. The company had a trading volume of 12,696 shares, compared to its average volume of 19,589. The company has a 50 day moving average of $17.23 and a 200 day moving average of $17.19. The stock has a market capitalization of $199.10 million, a P/E ratio of 16.03 and a beta of 0.84. FinWise Bancorp has a 52-week low of $10.02 and a 52-week high of $20.94.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.20 earnings per share 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 forecast that FinWise Bancorp will post 1.03 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FINW shares. Piper Sandler lifted their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stephens increased their target price on FinWise Bancorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Hovde Group started coverage on FinWise Bancorp in a report on Monday, April 14th. They issued an "outperform" rating and a $19.00 price objective for the company.

FinWise Bancorp 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.