FinWise Bancorp rises after Hovde Group starts coverage with 'outperform'

Finwise Bancorp

14/04/2025 18:49

** Community lender FinWise Bancorp's FINW.O shares rise 4.2% to $14.37

** Hovde Group starts coverage of FINW with "outperform" rating and $19 PT, a 38% upside to stock's last close

**  Brokerage says current valuation is highly attractive given sizable catalysts for profitability to remain high and likely improve over time

** Adds FINW is a unique player in the banking fintech space

** Brokerage expects several lending program announcements in the next few quarters given opportunities in the fintech space

** All four brokerages covering the stock rate "buy" or higher; median PT $20.50 - data compiled by LSEG

** As of last close, FINW shares down 14% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))