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

FinWise Bancorp (NASDAQ:FINW) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 45,100 shares, a decline of 21.4% from the October 15th total of 57,400 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 17,800 shares, the days-to-cover ratio is presently 2.5 days.

FinWise Bancorp Trading Down 0.1 %

Shares of NASDAQ FINW traded down $0.01 during midday trading on Friday, hitting $17.68. 9,542 shares of the company’s stock were exchanged, compared to its average volume of 17,466. FinWise Bancorp has a 12-month low of $8.72 and a 12-month high of $17.98. The company has a market cap of $233.55 million, a price-to-earnings ratio of 16.68 and a beta of 0.69. The business’s fifty day moving average price is $15.84 and its two-hundred day moving average price is $12.84.

Wall Street Analysts Forecast Growth

Separately, Stephens lifted their target price on FinWise Bancorp from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP purchased a new stake in FinWise Bancorp in the third quarter worth approximately $6,209,000. Vanguard Group Inc. boosted its stake in FinWise Bancorp by 6.9% in the first quarter. Vanguard Group Inc. now owns 376,802 shares of the company’s stock worth $3,787,000 after buying an additional 24,457 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in FinWise Bancorp by 25.8% in the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock worth $958,000 after buying an additional 19,235 shares in the last quarter. Geode Capital Management LLC boosted its stake in FinWise Bancorp by 21.7% in the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock worth $1,429,000 after buying an additional 16,309 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in FinWise Bancorp during the 2nd quarter valued at about $221,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

About FinWise Bancorp

FinWise Bancorp operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah. The company offers various deposit products, including interest and noninterest bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits.