Geode Capital Management LLC Grows Stock Position in FinWise Bancorp (NASDAQ:FINW)

Geode Capital Management LLC grew its stake in FinWise Bancorp (NASDAQ:FINW) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,608 shares of the company’s stock after buying an additional 16,309 shares during the quarter. Geode Capital Management LLC owned 0.69% of FinWise Bancorp worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FINW. Barclays PLC purchased a new position in FinWise Bancorp during the third quarter valued at approximately $47,000. Empowered Funds LLC grew its stake in shares of FinWise Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock worth $335,000 after purchasing an additional 1,072 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of FinWise Bancorp by 25.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after purchasing an additional 19,235 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in shares of FinWise Bancorp in the 3rd quarter valued at $6,209,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

FinWise Bancorp Price Performance

Shares of FINW stock opened at $16.61 on Friday. FinWise Bancorp has a 1-year low of $8.72 and a 1-year high of $20.50. The company has a market cap of $219.42 million, a price-to-earnings ratio of 15.67 and a beta of 0.72. The stock has a 50 day simple moving average of $17.37 and a 200-day simple moving average of $14.69.

Wall Street Analysts Forecast Growth

FINW has been the topic of a number of recent analyst reports. Raymond James began coverage on shares of FinWise Bancorp in a report on Wednesday, December 18th. They set an “outperform” rating and a $21.00 price target on the stock. Stephens increased their target price on shares of FinWise Bancorp from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th.

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.