FinWise Bancorp (NASDAQ:FINW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

FinWise Bancorp (NASDAQ:FINW) has received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.75.

Several brokerages have recently issued reports on FINW. Hovde Group increased their price objective on shares of FinWise Bancorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of FinWise Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

FinWise Bancorp Price Performance

NASDAQ:FINW opened at $19.35 on Tuesday. FinWise Bancorp has a fifty-two week low of $13.48 and a fifty-two week high of $22.49. The stock’s 50-day moving average is $19.19 and its two-hundred day moving average is $16.93. The stock has a market cap of $261.61 million, a PE ratio of 18.25 and a beta of 0.81.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $23.97 million for the quarter, compared to the consensus estimate of $27.87 million. FinWise Bancorp had a net margin of 12.13% and a return on equity of 8.43%. On average, equities research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current year.

Insider Activity

In other FinWise Bancorp news, Director Howard I. Reynolds acquired 2,297 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $18.95 per share, for a total transaction of $43,528.15. Following the transaction, the director directly owned 38,105 shares in the company, 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 SEC, which is available through this link. Also, insider Robert Keil sold 1,500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $19.48, for a total value of $29,220.00. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of FinWise Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in shares of FinWise Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock valued at $421,000 after acquiring an additional 1,591 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of FinWise Bancorp during the 2nd quarter worth $25,000. Police & Firemen s Retirement System of New Jersey bought a new position in FinWise Bancorp during the second quarter worth about $31,000. Bridgeway Capital Management LLC boosted its position in FinWise Bancorp by 2.7% during the second quarter. Bridgeway Capital Management LLC now owns 92,706 shares of the company’s stock worth $1,392,000 after purchasing an additional 2,454 shares during the period. Finally, Bank of America Corp DE boosted its position in FinWise Bancorp by 3,887.7% during the second quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock worth $44,000 after purchasing an additional 2,838 shares during the period. 35.41% of the stock is 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.