FinWise Bancorp (NASDAQ:FINW) Short Interest Up 7.7% in January

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

Wall Street Analysts Forecast Growth

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

FinWise Bancorp Price Performance

FinWise Bancorp stock traded up $0.42 during midday trading on Tuesday, reaching $18.31. The company had a trading volume of 6,302 shares, compared to its average volume of 18,738. FinWise Bancorp has a 12-month low of $8.72 and a 12-month high of $20.50. The firm’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $15.47. The company has a market capitalization of $241.81 million, a P/E ratio of 19.48 and a beta of 0.80.

FinWise Bancorp (NASDAQ:FINW) last posted its 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, analysts expect that FinWise Bancorp will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

Several hedge funds have recently added to or reduced their stakes in FINW. Empowered Funds LLC lifted its holdings in shares of 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 purchasing an additional 1,013 shares during the period. Barclays PLC purchased a new stake in FinWise Bancorp in the 3rd quarter valued at about $47,000. Geode Capital Management LLC raised its holdings in shares of FinWise Bancorp by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock worth $1,429,000 after purchasing an additional 16,309 shares during the period. Wasatch Advisors LP purchased a new position in FinWise Bancorp in the third quarter valued at about $6,209,000. Finally, Dimensional Fund Advisors LP lifted its holdings in FinWise Bancorp by 25.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock worth $958,000 after buying an additional 19,235 shares in the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

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.