Short Interest in FinWise Bancorp (NASDAQ:FINW) Increases By 7.7%

FinWise Bancorp (NASDAQ:FINW) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 39,000 shares, an increase of 7.7% from the December 15th total of 36,200 shares. Based on an average trading volume of 18,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stephens lifted their price objective on FinWise Bancorp from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Raymond James started coverage on FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective on the stock.

Hedge Funds Weigh In On FinWise Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in shares of FinWise Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock worth $335,000 after purchasing an additional 1,072 shares during the period. Barclays PLC purchased a new position in FinWise Bancorp during the 3rd quarter valued at $47,000. Geode Capital Management LLC grew its position in FinWise Bancorp by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock valued at $1,429,000 after acquiring an additional 16,309 shares during the last quarter. Dimensional Fund Advisors LP grew its position in FinWise Bancorp by 25.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after acquiring an additional 19,235 shares during the last quarter. Finally, Wasatch Advisors LP bought a new stake in shares of FinWise Bancorp during the third quarter worth $6,209,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

FinWise Bancorp Price Performance

Shares of FinWise Bancorp stock traded down $0.04 on Monday, reaching $16.41. The company had a trading volume of 10,827 shares, compared to its average volume of 15,122. The firm has a market cap of $216.78 million, a price-to-earnings ratio of 15.48 and a beta of 0.77. The firm’s 50-day moving average price is $17.24 and its two-hundred day moving average price is $15.01. FinWise Bancorp has a 1 year low of $8.72 and a 1 year high of $20.50.

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.