FinWise Bancorp (NASDAQ:FINW) Sees Significant Drop in Short Interest

FinWise Bancorp (NASDAQ:FINW) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 45,100 shares, a drop of 21.4% from the October 15th total of 57,400 shares. Based on an average trading volume of 17,800 shares, the short-interest ratio is currently 2.5 days. Approximately 0.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in FinWise Bancorp by 8.0% during the first quarter. Empowered Funds LLC now owns 18,936 shares of the company’s stock worth $190,000 after purchasing an additional 1,400 shares during the last quarter. Vanguard Group Inc. raised its position in FinWise Bancorp by 6.9% in the first quarter. Vanguard Group Inc. now owns 376,802 shares of the company’s stock worth $3,787,000 after acquiring an additional 24,457 shares during the period. Quadrature Capital Ltd bought a new stake in FinWise Bancorp in the first quarter worth about $164,000. Foundations Investment Advisors LLC bought a new stake in FinWise Bancorp in the second quarter worth about $221,000. Finally, Dimensional Fund Advisors LP raised its position in FinWise Bancorp by 25.8% in the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock worth $958,000 after acquiring an additional 19,235 shares during the period. 35.41% of the stock is currently owned by institutional investors and hedge funds.

FinWise Bancorp Stock Down 0.1 %

Shares of FINW stock traded down $0.01 during trading hours on Friday, hitting $17.68. 9,542 shares of the company’s stock traded hands, compared to its average volume of 17,466. FinWise Bancorp has a 12 month low of $8.72 and a 12 month high of $17.98. The stock’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $12.84. The stock has a market cap of $233.55 million, a PE ratio of 16.68 and a beta of 0.69.

Analyst Upgrades and Downgrades

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

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.