Piper Sandler Issues Positive Forecast for FinWise Bancorp (NASDAQ:FINW) Stock Price

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

Several other brokerages have also recently issued reports on FINW. Stephens boosted their price objective 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 started coverage on FinWise Bancorp in a report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price target for the company.

FinWise Bancorp Trading Up 11.5 %

FINW opened at $18.53 on Friday. FinWise Bancorp has a 12-month low of $8.72 and a 12-month high of $20.50. The firm has a 50 day moving average of $17.05 and a two-hundred day moving average of $15.38. The firm has a market capitalization of $244.78 million, a PE ratio of 17.48 and a beta of 0.77.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Monday, February 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). FinWise Bancorp had a return on equity of 8.63% and a net margin of 14.78%. As a group, analysts predict that FinWise Bancorp will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position 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 buying an additional 19,235 shares in the last quarter. Empowered Funds LLC raised its position in FinWise Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock worth $335,000 after acquiring an additional 1,072 shares during the period. Wasatch Advisors LP acquired a new stake in shares of FinWise Bancorp in the third quarter valued at about $6,209,000. Barclays PLC purchased a new stake in shares of FinWise Bancorp during the third quarter worth about $47,000. Finally, Geode Capital Management LLC raised its position in shares of FinWise Bancorp by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock worth $1,429,000 after purchasing an additional 16,309 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

FinWise Bancorp Company Profile

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.