FinWise Bancorp (NASDAQ:FINW) Shares Up 2.5% – Still a Buy?

Shares of FinWise Bancorp (NASDAQ:FINW) rose 2.5% on Wednesday . The stock traded as high as $16.65 and last traded at $16.61. Approximately 5,333 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 16,927 shares. The stock had previously closed at $16.20.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FINW. Raymond James started coverage on shares of FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective on the stock. Stephens increased their target price 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

The stock’s fifty day moving average price is $17.37 and its 200-day moving average price is $14.69. The firm has a market cap of $219.42 million, a PE ratio of 15.67 and a beta of 0.72.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of FinWise Bancorp by 25.8% during the 2nd 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 in the last quarter. Empowered Funds LLC raised its holdings in FinWise Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock worth $335,000 after purchasing an additional 1,072 shares during the last quarter. Wasatch Advisors LP purchased a new stake in FinWise Bancorp during the third quarter worth $6,209,000. Barclays PLC acquired a new stake in FinWise Bancorp in the third quarter valued at $47,000. Finally, Geode Capital Management LLC grew its holdings 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 during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

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.