FinWise Bancorp (NASDAQ:FINW) Sees Significant Decrease in Short Interest

FinWise Bancorp (NASDAQ:FINW) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 98,444 shares, a decline of 17.7% from the February 12th total of 119,589 shares. Based on an average daily trading volume, of 9,207 shares, the short-interest ratio is currently 10.7 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 9,207 shares, the short-interest ratio is currently 10.7 days.

Analyst Upgrades and Downgrades

FINW has been the topic of several research analyst reports. Zacks Research downgraded FinWise Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of FinWise Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.00.

FinWise Bancorp Price Performance

FINW traded up $0.36 during trading on Monday, reaching $16.13. The company had a trading volume of 9,057 shares, compared to its average volume of 20,159. FinWise Bancorp has a 12 month low of $13.48 and a 12 month high of $22.49. The business’s fifty day moving average price is $17.37 and its 200 day moving average price is $18.22. The company has a market cap of $219.16 million, a P/E ratio of 14.27 and a beta of 0.82.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.08). FinWise Bancorp had a return on equity of 8.82% and a net margin of 10.66%.The company had revenue of $26.36 million for the quarter, compared to the consensus estimate of $42.32 million. As a group, sell-side analysts predict that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Institutional Trading of FinWise Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new stake in shares of FinWise Bancorp in the fourth quarter valued at about $192,000. Millennium Management LLC bought a new position in shares of FinWise Bancorp during the fourth quarter worth about $224,000. Bridgeway Capital Management LLC raised its position in FinWise Bancorp by 0.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 88,889 shares of the company’s stock valued at $1,595,000 after buying an additional 700 shares during the last quarter. Barclays PLC lifted its stake in FinWise Bancorp by 13.9% in the 4th quarter. Barclays PLC now owns 14,634 shares of the company’s stock valued at $263,000 after acquiring an additional 1,786 shares in the last quarter. Finally, State Street Corp lifted its stake in FinWise Bancorp by 10.8% in the 4th quarter. State Street Corp now owns 86,148 shares of the company’s stock valued at $1,545,000 after acquiring an additional 8,429 shares in the last quarter. Institutional investors and hedge funds own 35.41% of the company’s stock.

FinWise Bancorp Company Profile

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.