FinWise Bancorp (NASDAQ:FINW) Price Target Raised to $22.00 at Stephens

FinWise Bancorp (NASDAQ:FINW) had its target price raised by Stephens from $20.00 to $22.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the stock. Piper Sandler upped their price objective on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James started coverage on shares of FinWise Bancorp in a report on Wednesday, December 18th. They set an “outperform” rating and a $21.00 price target for the company.

FinWise Bancorp Price Performance

NASDAQ FINW opened at $18.53 on Friday. FinWise Bancorp has a fifty-two week low of $8.72 and a fifty-two week high of $20.50. The stock’s 50-day moving average is $17.05 and its two-hundred day moving average is $15.38. The firm has a market cap of $244.78 million, a P/E ratio of 17.48 and a beta of 0.77.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that FinWise Bancorp will post 0.98 EPS for the current year.

Institutional Investors Weigh In On FinWise Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP bought a new stake in FinWise Bancorp in the 3rd quarter valued at $6,209,000. Dimensional Fund Advisors LP raised its position in shares of FinWise Bancorp by 25.8% during the second 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 last quarter. Geode Capital Management LLC lifted its stake in shares of FinWise Bancorp by 21.7% in the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock valued at $1,429,000 after buying an additional 16,309 shares during the period. Barclays PLC acquired a new stake in FinWise Bancorp during the third quarter worth about $47,000. Finally, Empowered Funds LLC increased its stake in FinWise Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock valued at $335,000 after acquiring an additional 1,072 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.