Alliancebernstein L.P. Sells 61,668 Shares of FinWise Bancorp (NASDAQ:FINW)

Alliancebernstein L.P. lowered its stake in shares of FinWise Bancorp (NASDAQ:FINW) by 5.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 984,785 shares of the company’s stock after selling 61,668 shares during the quarter. Alliancebernstein L.P. owned 0.07% of FinWise Bancorp worth $15,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FINW. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 16,309 shares during the last quarter. Empowered Funds LLC boosted its holdings in 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 last quarter. Finally, Barclays PLC purchased a new position in FinWise Bancorp during the third quarter worth about $47,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

FinWise Bancorp Stock Down 1.1 %

Shares of FINW stock opened at $14.22 on Wednesday. The firm has a market cap of $187.93 million, a P/E ratio of 15.13 and a beta of 0.84. The company has a 50 day moving average of $18.18 and a 200-day moving average of $17.23. FinWise Bancorp has a 12-month low of $9.56 and a 12-month high of $20.94.

FinWise Bancorp (NASDAQ:FINW) last released its earnings results on Monday, February 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). FinWise Bancorp had a return on equity of 7.67% and a net margin of 13.23%. As a group, equities analysts expect that FinWise Bancorp will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on FINW shares. Piper Sandler lifted their target price on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James initiated coverage on FinWise Bancorp in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Stephens raised their target price on FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, January 31st.

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.