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

FinWise Bancorp (NASDAQ:FINW) had its target price raised by Stephens from $20.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 19.53% from the company’s previous close.

FINW has been the topic of several other research reports. Raymond James started coverage on FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 target price on the stock. 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.

FinWise Bancorp Stock Up 10.7 %

FINW traded up $1.79 during trading on Friday, reaching $18.41. The company had a trading volume of 20,485 shares, compared to its average volume of 15,064. The stock has a market cap of $243.13 million, a P/E ratio of 17.36 and a beta of 0.77. The business has a 50 day simple moving average of $17.03 and a 200-day simple moving average of $15.33. FinWise Bancorp has a 52 week low of $8.72 and a 52 week high of $20.50.

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%. As a group, equities research analysts expect that FinWise Bancorp will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its holdings in shares of FinWise Bancorp by 4.7% during the fourth quarter. Empowered Funds LLC now owns 22,461 shares of the company’s stock worth $359,000 after purchasing an additional 1,013 shares during the period. Barclays PLC acquired a new stake in shares of FinWise Bancorp during the third quarter worth about $47,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 16,309 shares during the period. Dimensional Fund Advisors LP raised its position in FinWise Bancorp by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after acquiring an additional 19,235 shares in the last quarter. Finally, Wasatch Advisors LP purchased a new position in FinWise Bancorp during the third quarter valued at approximately $6,209,000. Institutional investors and hedge funds 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.