Short Interest in FinWise Bancorp (NASDAQ:FINW) Drops By 21.4%

FinWise Bancorp (NASDAQ:FINW) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 45,100 shares, a decline of 21.4% from the October 15th total of 57,400 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 17,800 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, Stephens raised their price target on FinWise Bancorp from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

FinWise Bancorp Stock Performance

Shares of FinWise Bancorp stock opened at $17.69 on Friday. The stock has a 50 day moving average price of $15.75 and a 200-day moving average price of $12.76. FinWise Bancorp has a one year low of $8.72 and a one year high of $17.98. The stock has a market cap of $233.68 million, a price-to-earnings ratio of 16.69 and a beta of 0.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FINW. Wasatch Advisors LP purchased a new position in shares of FinWise Bancorp during the 3rd quarter worth about $6,209,000. Vanguard Group Inc. boosted its position in shares of FinWise Bancorp by 6.9% during the first quarter. Vanguard Group Inc. now owns 376,802 shares of the company’s stock valued at $3,787,000 after buying an additional 24,457 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of FinWise Bancorp by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after buying an additional 19,235 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of FinWise Bancorp in the second quarter worth approximately $221,000. Finally, Empowered Funds LLC lifted its stake in shares of FinWise Bancorp by 5.3% during the 3rd 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 last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

FinWise Bancorp Company Profile

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.