Wasatch Advisors LP Raises Stock Position in FinWise Bancorp (NASDAQ:FINW)

Wasatch Advisors LP increased its holdings in shares of FinWise Bancorp (NASDAQ:FINW) by 58.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 629,399 shares of the company’s stock after purchasing an additional 231,405 shares during the period. Wasatch Advisors LP owned 4.76% of FinWise Bancorp worth $10,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in FinWise Bancorp during the 3rd quarter worth approximately $47,000. Geode Capital Management LLC lifted its position 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 in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of FinWise Bancorp by 4.7% in the fourth quarter. Empowered Funds LLC now owns 22,461 shares of the company’s stock valued at $359,000 after purchasing an additional 1,013 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FINW. Hovde Group assumed coverage on shares of FinWise Bancorp in a research note on Monday. They set an “outperform” rating and a $19.00 price target on the stock. Stephens boosted their price target on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler raised their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Raymond James assumed coverage on FinWise Bancorp in a report on Wednesday, December 18th. They set an “outperform” rating and a $21.00 price objective on the stock.

FinWise Bancorp Stock Down 1.3 %

Shares of NASDAQ FINW opened at $14.53 on Thursday. The stock’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $17.18. FinWise Bancorp has a 52-week low of $9.76 and a 52-week high of $20.94. The stock has a market capitalization of $192.03 million, a P/E ratio of 15.46 and a beta of 0.84.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings data 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 7.67% and a net margin of 13.23%. On average, analysts anticipate 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.