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

Raymond James initiated coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a report published on Wednesday, Marketbeat.com reports. The firm issued an outperform rating and a $21.00 price target on the stock.

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

FinWise Bancorp Trading Up 1.4 %

NASDAQ:FINW traded up $0.25 during trading hours on Wednesday, hitting $17.87. 6,071 shares of the company were exchanged, compared to its average volume of 19,237. The stock has a market capitalization of $236.08 million, a price-to-earnings ratio of 16.86 and a beta of 0.72. FinWise Bancorp has a one year low of $8.72 and a one year high of $20.50. The company has a fifty day simple moving average of $17.34 and a 200 day simple moving average of $14.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP acquired a new position in FinWise Bancorp in the third quarter valued at approximately $6,209,000. Foundations Investment Advisors LLC bought a new position in FinWise Bancorp during the second quarter worth $221,000. Dimensional Fund Advisors LP grew 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 worth $958,000 after purchasing an additional 19,235 shares during the period. Geode Capital Management LLC increased its stake in FinWise Bancorp by 21.7% in 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 in the last quarter. Finally, Barclays PLC acquired a new position in shares of FinWise Bancorp during the third quarter valued at about $47,000. 35.41% of the stock is 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.