FinWise Bancorp (NASDAQ:FINW) Receives Consensus Rating of “Moderate Buy” from Analysts

FinWise Bancorp (NASDAQ:FINW) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.75.

FINW has been the subject of several analyst reports. Hovde Group raised their target price on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Wall Street Zen raised FinWise Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of FinWise Bancorp in a research note on Tuesday.

FinWise Bancorp Price Performance

Shares of FINW stock opened at $17.82 on Friday. The stock has a fifty day moving average price of $18.95 and a 200 day moving average price of $17.24. The stock has a market cap of $242.17 million, a P/E ratio of 16.81 and a beta of 0.81. FinWise Bancorp has a one year low of $13.48 and a one year high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Wednesday, October 29th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $36.66 million for the quarter, compared to analyst estimates of $27.87 million. FinWise Bancorp had a net margin of 12.13% and a return on equity of 8.31%. Equities research analysts anticipate that FinWise Bancorp will post 1.03 EPS for the current year.

Insider Transactions at FinWise Bancorp

In other news, Director Howard I. Reynolds acquired 2,297 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $18.95 per share, with a total value of $43,528.15. Following the completion of the purchase, the director owned 38,105 shares of the company’s stock, valued at $722,089.75. This represents a 6.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Keil sold 1,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $19.48, for a total value of $29,220.00. Following the sale, the insider directly owned 56,428 shares of the company’s stock, valued at $1,099,217.44. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On FinWise Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its position in shares of FinWise Bancorp by 0.6% during the third 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 raised its position in FinWise Bancorp by 7.2% in the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock worth $14,631,000 after purchasing an additional 50,434 shares during the last quarter. Vanguard Group Inc. raised its position in FinWise Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after purchasing an additional 1,739 shares during the last quarter. US Bancorp DE boosted its position in FinWise Bancorp by 22.2% in the 2nd quarter. US Bancorp DE now owns 429,048 shares of the company’s stock valued at $6,440,000 after buying an additional 78,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of FinWise Bancorp by 109.3% during the second 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 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.