FinWise Bancorp (NASDAQ:FINW) Short Interest Up 28.5% in January

FinWise Bancorp (NASDAQ:FINW) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 48,200 shares, a growth of 28.5% from the January 15th total of 37,500 shares. Based on an average daily trading volume, of 23,300 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FINW shares. Raymond James assumed coverage on shares of FinWise Bancorp in a report on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective for the company. Piper Sandler lifted their price target on FinWise Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Stephens boosted their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

FinWise Bancorp Price Performance

Shares of FINW traded up $0.14 during mid-day trading on Friday, hitting $19.93. The company’s stock had a trading volume of 59,898 shares, compared to its average volume of 25,544. The firm has a 50-day moving average price of $17.35 and a 200 day moving average price of $15.98. FinWise Bancorp has a fifty-two week low of $8.72 and a fifty-two week high of $20.86. The stock has a market capitalization of $263.28 million, a price-to-earnings ratio of 21.20 and a beta of 0.80.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Monday, February 3rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). FinWise Bancorp had a return on equity of 7.67% and a net margin of 13.23%. As a group, equities analysts anticipate that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

A number of hedge funds have recently modified their holdings of FINW. Empowered Funds LLC boosted its position in shares of FinWise Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock valued at $335,000 after purchasing an additional 1,072 shares during the period. Wasatch Advisors LP purchased a new stake in FinWise Bancorp during the third quarter valued at about $6,209,000. Barclays PLC acquired a new position in shares of FinWise Bancorp in the third quarter worth about $47,000. Geode Capital Management LLC boosted its holdings 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. Finally, Susquehanna International Group LLP increased its position in shares of FinWise Bancorp by 155.2% in the fourth quarter. Susquehanna International Group LLP now owns 123,044 shares of the company’s stock worth $1,966,000 after acquiring an additional 74,821 shares in the last quarter. 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.