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

FinWise Bancorp (NASDAQ:FINW) had its price target lifted by Piper Sandler from $20.00 to $22.00 in a report published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Stephens upped their target price on FinWise Bancorp from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Raymond James initiated coverage on shares of FinWise Bancorp in a report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective for the company.

FinWise Bancorp Price Performance

Shares of FINW stock opened at $18.53 on Friday. FinWise Bancorp has a 1-year low of $8.72 and a 1-year high of $20.50. The stock has a 50 day simple moving average of $17.05 and a 200-day simple moving average of $15.43. The company has a market cap of $244.78 million, a price-to-earnings ratio of 17.48 and a beta of 0.77.

FinWise Bancorp (NASDAQ:FINW) last released its earnings results 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 return on equity of 8.63% and a net margin of 14.78%. Analysts anticipate that FinWise Bancorp will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of FinWise Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in FinWise Bancorp by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock worth $958,000 after buying an additional 19,235 shares during the period. Empowered Funds LLC increased its holdings in FinWise Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock valued at $335,000 after purchasing an additional 1,072 shares during the last quarter. Wasatch Advisors LP purchased a new stake in FinWise Bancorp in the third quarter valued at approximately $6,209,000. Barclays PLC acquired a new position in FinWise Bancorp during the third quarter worth $47,000. Finally, Geode Capital Management LLC boosted its position in shares of FinWise Bancorp by 21.7% during the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock worth $1,429,000 after buying an additional 16,309 shares during the period. 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.