FinWise Bancorp (NASDAQ:FINW) Trading 0.4% Higher – Here’s What Happened

FinWise Bancorp (NASDAQ:FINW) shares shot up 0.4% during mid-day trading on Friday . The stock traded as high as $17.44 and last traded at $17.44. 22,864 shares were traded during trading, an increase of 23% from the average session volume of 18,643 shares. The stock had previously closed at $17.37.

Wall Street Analyst Weigh In

Several analysts have weighed in on FINW shares. Raymond James started coverage on shares of FinWise Bancorp in a research note on Wednesday, December 18th. They set an “outperform” rating and a $21.00 target price for the company. Stephens increased their price objective on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler 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.

FinWise Bancorp Stock Up 0.4 %

The company has a market capitalization of $230.40 million, a P/E ratio of 18.55 and a beta of 0.78. The business has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $16.99.

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 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 analysts forecast that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Institutional Trading of FinWise Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of FinWise Bancorp during the fourth quarter valued at $679,000. Bridgeway Capital Management LLC grew its position in FinWise Bancorp by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 87,661 shares of the company’s stock valued at $1,401,000 after buying an additional 1,013 shares in the last quarter. Citadel Advisors LLC acquired a new position in FinWise Bancorp during the 4th quarter valued at about $175,000. Bank of America Corp DE raised its position in shares of FinWise Bancorp by 4,847.1% during the 4th quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock worth $55,000 after buying an additional 3,393 shares in the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of FinWise Bancorp during the 4th quarter worth about $310,000. Institutional investors 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.