PFG Investments LLC Buys New Shares in FinWise Bancorp (NASDAQ:FINW)

PFG Investments LLC purchased a new position in shares of FinWise Bancorp (NASDAQ:FINW) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,250 shares of the company’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds have also bought and sold shares of FINW. Millennium Management LLC bought a new position in shares of FinWise Bancorp in the fourth quarter valued at approximately $679,000. Bridgeway Capital Management LLC increased its stake 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 during the last quarter. Citadel Advisors LLC bought a new position in shares of FinWise Bancorp during the 4th quarter worth approximately $175,000. Bank of America Corp DE boosted its stake in shares of FinWise Bancorp by 4,847.1% in 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 during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of FinWise Bancorp in the 4th quarter worth approximately $310,000. 35.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group decreased their price target on FinWise Bancorp from $19.00 to $18.50 and set an “outperform” rating for the company in a research report on Thursday, May 1st.

FinWise Bancorp Trading Up 0.7%

Shares of NASDAQ FINW opened at $13.98 on Friday. The stock has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $16.36. FinWise Bancorp has a 1-year low of $10.15 and a 1-year high of $20.94. The firm has a market cap of $184.82 million, a price-to-earnings ratio of 15.20 and a beta of 0.80.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $22.38 million. FinWise Bancorp had a return on equity of 7.34% and a net margin of 12.67%. Analysts forecast that FinWise Bancorp will post 1.03 EPS for the current year.

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.