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

FinWise Bancorp (NASDAQ:FINW) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 133,784 shares, a decrease of 15.7% from the January 15th total of 158,681 shares. Based on an average daily volume of 29,572 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.3% of the company’s shares are sold short. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 29,572 shares, the days-to-cover ratio is presently 4.5 days.

FinWise Bancorp Price Performance

FINW stock opened at $17.36 on Monday. The firm’s 50-day moving average is $17.87 and its 200 day moving average is $18.49. The company has a market capitalization of $235.92 million, a PE ratio of 15.36 and a beta of 0.82. FinWise Bancorp has a 12 month low of $13.48 and a 12 month high of $22.49.

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 net margin of 10.66% and a return on equity of 8.82%. The business had revenue of $26.36 million for the quarter, compared to analysts’ expectations of $42.32 million. Sell-side analysts forecast that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of FinWise Bancorp by 13.9% in the fourth quarter. Barclays PLC now owns 14,634 shares of the company’s stock valued at $263,000 after purchasing an additional 1,786 shares during the period. State Street Corp lifted its position in shares of FinWise Bancorp by 10.8% during the 4th quarter. State Street Corp now owns 86,148 shares of the company’s stock worth $1,545,000 after purchasing an additional 8,429 shares during the last quarter. Wells Fargo & Company MN lifted its stake in FinWise Bancorp by 68.0% during the fourth quarter. Wells Fargo & Company MN now owns 10,283 shares of the company’s stock worth $184,000 after purchasing an additional 4,163 shares during the last quarter. Deutsche Bank AG boosted its stake in FinWise Bancorp by 12.7% in the fourth quarter. Deutsche Bank AG now owns 9,611 shares of the company’s stock valued at $172,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of FinWise Bancorp by 109.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 40,565 shares of the company’s stock valued at $728,000 after acquiring an additional 21,224 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FINW shares. Zacks Research raised FinWise Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, December 29th. Finally, Hovde Group increased their price objective on FinWise Bancorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.00.

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.