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

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