FinWise Bancorp (NASDAQ:FINW) Stock Price Expected to Rise, Piper Sandler Analyst Says

FinWise Bancorp (NASDAQ:FINW) had its target price upped by equities researchers at Piper Sandler from $20.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 26.44% from the stock’s current price.

A number of other research analysts also recently weighed in on FINW. Raymond James began coverage on shares of FinWise Bancorp in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective for the company. Stephens boosted their price objective on FinWise Bancorp from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th.

FinWise Bancorp Stock Performance

FINW stock traded up $0.78 during midday trading on Friday, reaching $17.40. The stock had a trading volume of 9,157 shares, compared to its average volume of 14,457. FinWise Bancorp has a 52-week low of $8.72 and a 52-week high of $20.50. The stock has a market cap of $229.85 million, a PE ratio of 16.42 and a beta of 0.77. The firm has a fifty day simple moving average of $17.03 and a two-hundred day simple moving average of $15.33.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.07). FinWise Bancorp had a net margin of 14.78% and a return on equity of 8.63%. On average, sell-side analysts predict that FinWise Bancorp will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FINW. Wasatch Advisors LP acquired a new stake in shares of FinWise Bancorp in the 3rd quarter worth $6,209,000. Dimensional Fund Advisors LP raised its holdings in shares of FinWise Bancorp by 25.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after buying an additional 19,235 shares during the period. Geode Capital Management LLC boosted its holdings in FinWise Bancorp by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock valued at $1,429,000 after acquiring an additional 16,309 shares during the period. Empowered Funds LLC grew its position in FinWise Bancorp by 4.7% in the 4th quarter. Empowered Funds LLC now owns 22,461 shares of the company’s stock valued at $359,000 after acquiring an additional 1,013 shares in the last quarter. Finally, Barclays PLC purchased a new stake in FinWise Bancorp during the third quarter worth about $47,000. 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.