FinWise Bancorp (NASDAQ:FINW) Trading 2.5% Higher - Still a Buy?

FinWise Bancorp (NASDAQ:FINW - Get Free Report) rose 2.5% during mid-day trading on Wednesday . The stock traded as high as $16.65 and last traded at $16.61. Approximately 5,333 shares changed hands during trading, a decline of 68% from the average daily volume of 16,927 shares. The stock had previously closed at $16.20.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stephens lifted their price target on shares of FinWise Bancorp from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Raymond James started coverage on FinWise Bancorp in a research report on Wednesday, December 18th. They issued an "outperform" rating and a $21.00 target price for the company.

FinWise Bancorp Stock Up 2.5 %

The stock has a market capitalization of $219.42 million, a P/E ratio of 15.67 and a beta of 0.72. The business's 50 day simple moving average is $17.37 and its two-hundred day simple moving average is $14.69.

Hedge Funds Weigh In On FinWise Bancorp

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in shares of FinWise Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 21,448 shares of the company's stock valued at $335,000 after purchasing an additional 1,072 shares in the last quarter. Wasatch Advisors LP bought a new position in shares of FinWise Bancorp during the 3rd quarter worth approximately $6,209,000. Dimensional Fund Advisors LP boosted its stake in shares of FinWise Bancorp by 25.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company's stock worth $958,000 after buying an additional 19,235 shares during the last quarter. Barclays PLC bought a new position in shares of FinWise Bancorp in the third quarter valued at approximately $47,000. Finally, Geode Capital Management LLC increased 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 valued at $1,429,000 after acquiring an additional 16,309 shares during the last quarter. 35.41% of the stock is currently owned by institutional investors.

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.