Piper Sandler Sets New Price Target for FinWise Bancorp

FinWise Bancorp (NASDAQ:FINW) has recently received an updated price target from Piper Sandler, which has increased their target from $20.00 to $22.00, as reported on Friday. This adjustment has positioned the stock with an "overweight" rating, indicating that analysts see a favorable outlook for FinWise Bancorp's stock performance.

The new price target suggests a potential upside of approximately 26.44% from FinWise Bancorp's current trading levels. This positive sentiment comes as the company continues to gain attention in various investment circles.

Recent Analyst Opinions

FinWise Bancorp has been featured in multiple analyst reports recently. Notably, Raymond James commenced coverage on the stock on December 18th, where they assigned an "outperform" rating and set a price target of $21.00. Additionally, Stephens also raised their target from $17.00 to $18.00 and provided the stock with an "overweight" rating in a report dated October 29th.

Stock Performance Overview

During mid-day trading on Friday, shares of FinWise Bancorp increased by $0.78, reaching a price of $17.40. The trading volume for the day was 9,157 shares, which is below the average trading volume of 14,457 shares. Over the past year, FinWise Bancorp has seen a low of $8.72 and a high of $20.50. Currently, the stock is trading above its 50-day moving average of $17.03 and its 200-day moving average of $15.33. The market capitalization of FinWise Bancorp stands at $229.85 million, with a price-to-earnings ratio of 16.42 and a beta of 0.77.

Earnings Report Highlights

FinWise Bancorp released its latest earnings results on February 3rd, reporting earnings per share (EPS) of $0.20 for the quarter. This figure fell short of the consensus estimate of $0.27 by $0.07. The company demonstrated a net margin of 14.78% and a return on equity of 8.63%. Currently, equity analysts estimate that FinWise Bancorp will achieve an EPS of 0.98 for the ongoing fiscal year.

Institutional Investment Activity

Recent changes in ownership stakes for FinWise Bancorp have been notable. For example, Geode Capital Management LLC increased their holding by 21.7% during the third quarter and now owns 91,608 shares of the company, valued at approximately $1,429,000. Furthermore, Barclays PLC acquired a new position during the same period, valued around $47,000. Empowered Funds LLC also raised their position in the third quarter by 5.3%, bringing their total to 21,448 shares worth $335,000. Other notable transactions include Wasatch Advisors LP taking a new stake valued at about $6,209,000 and Dimensional Fund Advisors LP boosting its stake by 25.8% in the second quarter. Overall, institutional investors currently hold approximately 35.41% of FinWise Bancorp's stock.

About FinWise Bancorp

FinWise Bancorp functions as the bank holding company for FinWise Bank, which offers a variety of banking products and services to individual and corporate clients in Utah. The company provides various deposit options, including checking and savings accounts, time deposits, money market accounts, and health savings accounts.

FinWise, Stocks, Investment