Short Interest in FinWise Bancorp (NASDAQ:FINW) Rises By 7.7%

FinWise Bancorp (NASDAQ:FINW) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 39,000 shares, an increase of 7.7% from the December 31st total of 36,200 shares. Based on an average trading volume of 18,700 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stephens raised their target price on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James began coverage on FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Piper Sandler lifted their price target on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday.

Hedge Funds Weigh In On FinWise Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of FinWise Bancorp by 21.7% in the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock worth $1,429,000 after buying an additional 16,309 shares during the period. Barclays PLC bought a new stake in shares of FinWise Bancorp in the 3rd quarter worth approximately $47,000. Empowered Funds LLC increased its stake in FinWise Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock valued at $335,000 after acquiring an additional 1,072 shares during the period. Wasatch Advisors LP bought a new position in shares of FinWise Bancorp during the third quarter valued at $6,209,000. Finally, Dimensional Fund Advisors LP increased its holdings in FinWise Bancorp by 25.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after purchasing an additional 19,235 shares in the last quarter. 35.41% of the stock is owned by institutional investors.

FinWise Bancorp Price Performance

FINW traded up $0.42 during trading hours on Tuesday, reaching $18.31. 6,302 shares of the stock traded hands, compared to its average volume of 18,738. FinWise Bancorp has a fifty-two week low of $8.72 and a fifty-two week high of $20.50. The firm’s fifty day simple moving average is $17.04 and its two-hundred day simple moving average is $15.47. The company has a market cap of $241.81 million, a price-to-earnings ratio of 19.48 and a beta of 0.80.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). FinWise Bancorp had a return on equity of 7.67% and a net margin of 13.23%. On average, research analysts predict that FinWise Bancorp will post 0.9 earnings per share for the current year.

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.