Short Interest in FinWise Bancorp (NASDAQ:FINW) Rises By 27.1%

FinWise Bancorp (NASDAQ:FINW) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 125,147 shares, a growth of 27.1% from the February 26th total of 98,444 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 11,588 shares, the days-to-cover ratio is currently 10.8 days.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, December 29th. Zacks Research lowered shares of FinWise Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.00.

FinWise Bancorp Price Performance

Shares of FINW stock opened at $15.86 on Wednesday. FinWise Bancorp has a 1-year low of $13.48 and a 1-year high of $22.49. The stock’s fifty day moving average price is $16.87 and its 200 day moving average price is $17.91. The company has a market cap of $216.96 million, a price-to-earnings ratio of 14.04 and a beta of 0.82.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The business had revenue of $26.36 million during the quarter, compared to analysts’ expectations of $42.32 million. FinWise Bancorp had a net margin of 10.66% and a return on equity of 8.70%. As a group, equities research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On FinWise Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC boosted its stake in FinWise Bancorp by 0.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 88,889 shares of the company’s stock worth $1,595,000 after purchasing an additional 700 shares in the last quarter. Deutsche Bank AG increased its stake in FinWise Bancorp by 12.7% during the 4th quarter. Deutsche Bank AG now owns 9,611 shares of the company’s stock valued at $172,000 after purchasing an additional 1,086 shares in the last quarter. BNP Paribas Financial Markets increased its stake in FinWise Bancorp by 76.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,890 shares of the company’s stock valued at $56,000 after purchasing an additional 1,256 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FinWise Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock worth $421,000 after buying an additional 1,591 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of FinWise Bancorp by 0.4% in the third quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after buying an additional 1,739 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

About FinWise Bancorp

FinWise Bancorp is the bank holding company for FinWise Bank, a digital‐first community bank headquartered in Lindon, Utah. The company specializes in providing commercial lending and deposit products to marketplace lending platforms, fintech companies and small to mid‐sized businesses across the United States. FinWise Bancorp operates through its wholly owned subsidiary, FinWise Bank, which is FDIC‐insured and leverages a technology‐driven model to deliver banking services efficiently.

The company’s primary business activities include participant financing arrangements for marketplace lenders and other fintech platforms, as well as direct commercial loans.