Hovde Group Begins Coverage on FinWise Bancorp (NASDAQ:FINW)

Hovde Group assumed coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a report released on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $19.00 price target on the stock.

Several other analysts have also issued reports on FINW. Piper Sandler boosted their price objective on shares of FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James assumed coverage on shares of FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price target for the company. Finally, Stephens lifted 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 Stock Down 1.3 %

FINW stock opened at $14.53 on Monday. 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 has a 52 week low of $9.76 and a 52 week high of $20.94. The firm has a 50-day simple moving average of $17.55 and a 200-day simple moving average of $17.18.

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%. On average, analysts expect that FinWise Bancorp will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 16,309 shares during the period. Barclays PLC acquired a new stake in FinWise Bancorp in the 3rd quarter valued at $47,000. Empowered Funds LLC grew 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 buying an additional 1,013 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of FinWise Bancorp during the 4th quarter valued at about $197,000. Finally, Northern Trust Corp lifted its position in shares of FinWise Bancorp by 24.2% during the fourth quarter. Northern Trust Corp now owns 16,296 shares of the company’s stock worth $260,000 after purchasing an additional 3,179 shares in the last quarter. Institutional investors and hedge funds own 35.41% of the company’s stock.

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.