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

Equities researchers at Raymond James initiated coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a report issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $21.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 25.37% from the company’s previous close.

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

FinWise Bancorp Trading Down 4.9 %

FINW opened at $16.75 on Wednesday. FinWise Bancorp has a 1-year low of $8.72 and a 1-year high of $20.50. The firm has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $14.06. The stock has a market capitalization of $221.28 million, a PE ratio of 15.80 and a beta of 0.72.

Institutional Trading of FinWise Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position 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 during the period. Wasatch Advisors LP bought a new stake in shares of FinWise Bancorp during the third quarter worth approximately $6,209,000. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 19,235 shares during the period. Foundations Investment Advisors LLC acquired a new position in FinWise Bancorp in the second quarter valued at approximately $221,000. Finally, Barclays PLC bought a new position in FinWise Bancorp in the third quarter valued at approximately $47,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.