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

Raymond James started coverage on shares of FinWise Bancorp (NASDAQ:FINW) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $21.00 price objective on the stock.

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

FinWise Bancorp Stock Performance

Shares of FinWise Bancorp stock traded up $0.25 during trading hours on Wednesday, reaching $17.87. The company’s stock had a trading volume of 6,071 shares, compared to its average volume of 19,237. The stock’s fifty day simple moving average is $17.34 and its two-hundred day simple moving average is $14.04. The company has a market capitalization of $236.08 million, a P/E 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.

Institutional Investors Weigh In On FinWise Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in shares of FinWise Bancorp during the 3rd quarter worth $47,000. Foundations Investment Advisors LLC purchased a new stake in FinWise Bancorp during the second quarter worth about $221,000. Empowered Funds LLC raised its position in FinWise Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock worth $335,000 after acquiring an additional 1,072 shares during the period. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 19,235 shares during the period. Finally, Geode Capital Management LLC boosted 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 acquiring an additional 16,309 shares during the last quarter. Hedge funds and other institutional investors 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.