FinWise Bancorp (NASDAQ:FINW) Receives $21.75 Average Target Price from Analysts

FinWise Bancorp (NASDAQ:FINW) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.75.

Several research firms recently issued reports on FINW. Weiss Ratings reiterated a “hold (c+)” rating on shares of FinWise Bancorp in a report on Tuesday, November 18th. Hovde Group upped their target price on shares of FinWise Bancorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, October 20th.

FinWise Bancorp Trading Up 1.2%

Shares of FINW stock opened at $18.04 on Friday. The firm has a market capitalization of $245.16 million, a price-to-earnings ratio of 17.02 and a beta of 0.81. The firm’s 50 day moving average is $18.92 and its 200-day moving average is $17.31. FinWise Bancorp has a 1 year low of $13.48 and a 1 year high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $27.87 million. FinWise Bancorp had a net margin of 12.13% and a return on equity of 8.31%. On average, equities research analysts forecast that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Keil sold 1,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $19.48, for a total transaction of $29,220.00. Following the sale, the insider owned 56,428 shares of the company’s stock, valued at approximately $1,099,217.44. This trade represents a 2.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Howard I. Reynolds bought 2,297 shares of FinWise Bancorp stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $18.95 per share, for a total transaction of $43,528.15. Following the completion of the acquisition, the director owned 38,105 shares of the company’s stock, valued at approximately $722,089.75. This represents a 6.41% increase in their position. The disclosure for this purchase is available in the SEC filing. 21.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FinWise Bancorp

Institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. increased its stake in FinWise Bancorp by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock worth $14,963,000 after purchasing an additional 4,360 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of FinWise Bancorp by 7.2% in the third quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock valued at $14,631,000 after buying an additional 50,434 shares during the period. Vanguard Group Inc. increased its position in shares of FinWise Bancorp by 0.4% during the third quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after acquiring an additional 1,739 shares in the last quarter. US Bancorp DE raised its holdings in shares of FinWise Bancorp by 22.2% during the second quarter. US Bancorp DE now owns 429,048 shares of the company’s stock worth $6,440,000 after acquiring an additional 78,000 shares during the period. Finally, Geode Capital Management LLC lifted its position in FinWise Bancorp by 109.3% in the 2nd quarter. Geode Capital Management LLC now owns 204,323 shares of the company’s stock valued at $3,068,000 after acquiring an additional 106,683 shares in the last quarter. Institutional investors 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.