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

FinWise Bancorp (NASDAQ:FINW) was the target of a significant 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. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 18,700 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

FINW has been the topic of several analyst reports. Piper Sandler increased their target price on FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday. Stephens boosted their price objective on shares of FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Raymond James initiated coverage on FinWise Bancorp in a report on Wednesday, December 18th. They set an “outperform” rating and a $21.00 target price for the company.

FinWise Bancorp Trading Down 4.1 %

NASDAQ:FINW opened at $17.77 on Tuesday. The stock has a market capitalization of $234.74 million, a PE ratio of 18.90 and a beta of 0.80. The firm has a fifty day simple moving average of $17.04 and a 200 day simple moving average of $15.47. FinWise Bancorp has a 1-year low of $8.72 and a 1-year high of $20.50.

FinWise Bancorp (NASDAQ:FINW) last released 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 net margin of 13.23% and a return on equity of 7.67%. On average, equities analysts predict that FinWise Bancorp will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP acquired a new stake in shares of FinWise Bancorp in the 3rd quarter valued at $6,209,000. Dimensional Fund Advisors LP boosted its stake in FinWise Bancorp by 25.8% in 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 in the last quarter. Geode Capital Management LLC grew its position in FinWise Bancorp by 21.7% in the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock valued at $1,429,000 after acquiring an additional 16,309 shares during the last quarter. Empowered Funds LLC raised its stake in FinWise Bancorp by 4.7% during the fourth quarter. Empowered Funds LLC now owns 22,461 shares of the company’s stock worth $359,000 after acquiring an additional 1,013 shares in the last quarter. Finally, Barclays PLC bought a new position in shares of FinWise Bancorp in the third quarter worth about $47,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.