FinWise Bancorp (NASDAQ:FINW) Coverage Initiated at Raymond James

Analysts at Raymond James initiated coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $21.00 price target on the stock. Raymond James’ price target indicates a potential upside of 25.37% from the company’s previous close.

Separately, Stephens lifted their price objective 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 Stock Performance

Shares of FinWise Bancorp stock opened at $16.75 on Wednesday. The firm has a market cap of $221.28 million, a P/E ratio of 15.80 and a beta of 0.72. The firm’s 50-day simple moving average is $17.37 and its 200-day simple moving average is $14.06. FinWise Bancorp has a twelve month low of $8.72 and a twelve month high of $20.50.

Institutional Investors Weigh In On FinWise Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP acquired a new stake in shares of FinWise Bancorp during the 3rd quarter worth about $6,209,000. Foundations Investment Advisors LLC bought a new stake in FinWise Bancorp during the second quarter worth about $221,000. Dimensional Fund Advisors LP increased its holdings in shares of FinWise Bancorp by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock worth $958,000 after buying an additional 19,235 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 16,309 shares during the last quarter. Finally, Barclays PLC acquired a new position in shares of FinWise Bancorp in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 35.41% of the company’s stock.

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.