FinWise Bancorp (NASDAQ:FINW) Short Interest Down 14.4% in March

FinWise Bancorp (NASDAQ:FINW) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 107,079 shares, a drop of 14.4% from the March 15th total of 125,147 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,011 shares, the short-interest ratio is currently 7.6 days.

Hedge Funds Weigh In On FinWise Bancorp

Several hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. grew its stake in shares of FinWise Bancorp by 0.6% in the 3rd quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock worth $14,963,000 after purchasing an additional 4,360 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of FinWise Bancorp by 7.2% in the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock worth $14,631,000 after purchasing an additional 50,434 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of FinWise Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after purchasing an additional 1,739 shares during the last quarter. US Bancorp DE grew its stake in shares of FinWise Bancorp by 2.3% in the 4th quarter. US Bancorp DE now owns 439,048 shares of the company’s stock worth $7,877,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of FinWise Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 206,561 shares of the company’s stock worth $3,707,000 after purchasing an additional 2,416 shares during the last quarter. Institutional investors and hedge funds own 35.41% of the company’s stock.

FinWise Bancorp Price Performance

Shares of FINW traded up $0.83 during mid-day trading on Friday, hitting $17.23. The company’s stock had a trading volume of 15,455 shares, compared to its average volume of 17,633. The firm has a 50-day moving average price of $16.45 and a 200 day moving average price of $17.59. The stock has a market capitalization of $235.71 million, a price-to-earnings ratio of 15.25 and a beta of 0.84. FinWise Bancorp has a fifty-two week low of $13.48 and a fifty-two week high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last announced 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). The business had revenue of $26.36 million during the quarter, compared to analyst estimates of $42.32 million. FinWise Bancorp had a return on equity of 8.70% and a net margin of 10.66%. As a group, equities analysts anticipate that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FINW shares. Zacks Research cut shares of 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 equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.00.

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.