FinWise Bancorp (NASDAQ:FINW) Short Interest Down 21.4% in October

FinWise Bancorp (NASDAQ:FINW) was the recipient of 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. Based on an average trading volume of 17,800 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FINW. Wasatch Advisors LP bought a new stake in FinWise Bancorp during the third quarter valued at about $6,209,000. Vanguard Group Inc. boosted its holdings in shares of FinWise Bancorp by 6.9% in the 1st 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 in the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of FinWise Bancorp in the 2nd quarter worth approximately $221,000. Dimensional Fund Advisors LP raised its stake in shares of FinWise Bancorp by 25.8% during the 2nd 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 in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in FinWise Bancorp during the first quarter valued at approximately $164,000. 35.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

FinWise Bancorp Stock Down 0.1 %

FinWise Bancorp stock opened at $17.69 on Friday. The firm has a market cap of $233.68 million, a P/E ratio of 16.69 and a beta of 0.69. The business has a fifty day moving average of $15.75 and a two-hundred day moving average of $12.76. FinWise Bancorp has a twelve month low of $8.72 and a twelve month high of $17.98.

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.