Stephens Forecasts Strong Price Appreciation for FinWise Bancorp (NASDAQ:FINW) Stock

FinWise Bancorp (NASDAQ:FINW) had its price objective lifted by stock analysts at Stephens from $20.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price points to a potential upside of 18.73% from the company’s current price.

A number of other research analysts have also commented on FINW. Raymond James initiated coverage on FinWise Bancorp in a report on Wednesday, December 18th. They set an “outperform” rating and a $21.00 price target for the company. Piper Sandler upped their target price on shares of FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday.

FinWise Bancorp Trading Up 11.5 %

Shares of FinWise Bancorp stock opened at $18.53 on Friday. The firm has a fifty day simple moving average of $17.05 and a 200-day simple moving average of $15.41. The stock has a market capitalization of $244.78 million, a price-to-earnings ratio of 17.48 and a beta of 0.77. FinWise Bancorp has a 1-year low of $8.72 and a 1-year high of $20.50.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly 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 net margin of 14.78% and a return on equity of 8.63%. As a group, research analysts predict that FinWise Bancorp will post 0.98 earnings per share for the current year.

Institutional Trading of FinWise Bancorp

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in FinWise Bancorp by 21.7% in the third 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 bought a new position in shares of FinWise Bancorp during the 3rd quarter worth about $47,000. Empowered Funds LLC boosted its position in shares of 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 acquiring an additional 1,072 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of FinWise Bancorp during the 3rd quarter valued at about $6,209,000. Finally, Dimensional Fund Advisors LP increased its stake in FinWise Bancorp by 25.8% in the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after acquiring an additional 19,235 shares during the period. Institutional investors and hedge funds own 35.41% of the company’s stock.

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.