Hovde Group Cuts FinWise Bancorp (NASDAQ:FINW) Price Target to $18.50

FinWise Bancorp (NASDAQ:FINW) had its price target cut by Hovde Group from $19.00 to $18.50 in a report issued on Thursday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on FINW. Piper Sandler raised their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stephens boosted their price target on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

FinWise Bancorp Price Performance

Shares of NASDAQ FINW opened at $14.20 on Thursday. FinWise Bancorp has a 1 year low of $10.02 and a 1 year high of $20.94. The firm has a market cap of $187.67 million, a PE ratio of 15.11 and a beta of 0.84. The company has a 50 day simple moving average of $16.44 and a 200 day simple moving average of $17.14.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $22.38 million. FinWise Bancorp had a return on equity of 7.67% and a net margin of 13.23%. As a group, research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of FinWise Bancorp

Several large investors have recently modified their holdings of FINW. Barclays PLC acquired a new position in shares of FinWise Bancorp during the 3rd quarter valued at $47,000. Geode Capital Management LLC raised its holdings 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 purchasing an additional 16,309 shares during the period. Empowered Funds LLC boosted its position in shares of FinWise Bancorp by 4.7% during the 4th quarter. Empowered Funds LLC now owns 22,461 shares of the company’s stock worth $359,000 after purchasing an additional 1,013 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of FinWise Bancorp by 58.1% in the 4th quarter. Wasatch Advisors LP now owns 629,399 shares of the company’s stock valued at $10,058,000 after buying an additional 231,405 shares during the period. Finally, Susquehanna International Group LLP increased its position in FinWise Bancorp by 155.2% in the 4th quarter. Susquehanna International Group LLP now owns 123,044 shares of the company’s stock valued at $1,966,000 after buying an additional 74,821 shares in the last quarter. 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.