FinWise Bancorp (NASDAQ:FINW) Now Covered by Raymond James

Equities researchers at Raymond James assumed coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $21.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 10.53% from the stock’s current price.

Separately, Stephens upped their price objective on shares of FinWise Bancorp from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

FinWise Bancorp Stock Performance

FinWise Bancorp stock opened at $19.00 on Wednesday. The stock’s 50 day moving average price is $17.28 and its two-hundred day moving average price is $13.98. The stock has a market capitalization of $251.01 million, a price-to-earnings ratio of 17.92 and a beta of 0.72. FinWise Bancorp has a 52-week low of $8.72 and a 52-week high of $20.50.

Hedge Funds Weigh In On FinWise Bancorp

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC increased its stake in FinWise Bancorp by 5.3% during the 3rd 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. Barclays PLC acquired a new position in shares of FinWise Bancorp during the third quarter valued at about $47,000. 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 worth $1,429,000 after acquiring an additional 16,309 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 19,235 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in FinWise Bancorp in the 2nd quarter valued at about $221,000. 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.