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

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on FINW. 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, FinWise Bancorp has an average rating of “Hold” and an average target price of $22.00.

Institutional Trading of FinWise Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of FinWise Bancorp in the 2nd quarter valued at about $405,000. Empowered Funds LLC increased its stake in shares of FinWise Bancorp by 7.1% during the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock worth $421,000 after purchasing an additional 1,591 shares during the last quarter. Barclays PLC raised its holdings in shares of 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 purchasing an additional 1,786 shares during the period. Millennium Management LLC bought a new stake in shares of FinWise Bancorp in the 4th quarter valued at about $224,000. Finally, EP Wealth Advisors LLC acquired a new stake in FinWise Bancorp in the 4th quarter valued at about $192,000. 35.41% of the stock is owned by institutional investors.

FinWise Bancorp Stock Performance

NASDAQ FINW traded up $0.36 during trading hours on Monday, hitting $16.13. 9,057 shares of the company traded hands, compared to its average volume of 20,159. The business’s 50-day moving average is $17.37 and its 200-day moving average is $18.22. The stock has a market capitalization of $219.16 million, a price-to-earnings ratio of 14.27 and a beta of 0.82. FinWise Bancorp has a twelve month low of $13.48 and a twelve month high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.27 earnings per share 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 analyst estimates of $42.32 million. Analysts predict that FinWise Bancorp will post 1.03 EPS for the current year.

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.