FinWise Bancorp (NASDAQ:FINW) Now Covered by Analysts at Hovde Group

Hovde Group began coverage on shares of FinWise Bancorp (NASDAQ:FINW - Free Report) in a research report report published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $19.00 price objective on the stock.

A number of other research analysts also recently issued reports on FINW. Stephens boosted 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. Raymond James assumed coverage on shares of FinWise Bancorp in a report on Wednesday, December 18th. They issued an "outperform" rating and a $21.00 price target on the stock. Finally, Piper Sandler boosted 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.

FinWise Bancorp Trading Up 1.4 %

FINW stock traded up $0.20 during trading hours on Monday, hitting $14.73. 21,970 shares of the stock were exchanged, compared to its average volume of 19,609. FinWise Bancorp has a 12 month low of $9.76 and a 12 month high of $20.94. The company has a 50-day simple moving average of $17.45 and a two-hundred day simple moving average of $17.18. The firm has a market capitalization of $194.67 million, a P/E ratio of 15.67 and a beta of 0.84.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported $0.20 earnings per share 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, equities research analysts predict that FinWise Bancorp will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FINW. Barclays PLC purchased a new position in shares of FinWise Bancorp in the 3rd quarter worth about $47,000. Bank of America Corp DE raised its stake in shares of FinWise Bancorp by 4,847.1% during the fourth quarter. Bank of America Corp DE now owns 3,463 shares of the company's stock worth $55,000 after acquiring an additional 3,393 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of FinWise Bancorp in the 4th quarter worth approximately $175,000. Jane Street Group LLC purchased a new stake in shares of FinWise Bancorp in the 4th quarter valued at $197,000. Finally, Northern Trust Corp grew its holdings in shares of FinWise Bancorp by 24.2% during the 4th quarter. Northern Trust Corp now owns 16,296 shares of the company's stock valued at $260,000 after purchasing an additional 3,179 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

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.