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

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of FinWise Bancorp by 109.3% in the 2nd quarter. Geode Capital Management LLC now owns 204,323 shares of the company’s stock worth $3,068,000 after acquiring an additional 106,683 shares in the last quarter. Wasatch Advisors LP raised its position in shares of FinWise Bancorp by 7.2% during the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock valued at $14,631,000 after acquiring an additional 50,434 shares in the last quarter. Global Retirement Partners LLC bought a new position in FinWise Bancorp during the second quarter worth $405,000. Goldman Sachs Group Inc. lifted its stake in FinWise Bancorp by 186.3% during the first quarter. Goldman Sachs Group Inc. now owns 40,136 shares of the company’s stock worth $703,000 after purchasing an additional 26,115 shares during the last quarter. Finally, Militia Capital Partners LP boosted its holdings in FinWise Bancorp by 49.2% in the second quarter. Militia Capital Partners LP now owns 74,601 shares of the company’s stock worth $1,120,000 after purchasing an additional 24,601 shares during the period. Institutional investors own 35.41% of the company’s stock.

FinWise Bancorp Price Performance

Shares of FINW stock opened at $15.99 on Wednesday. The firm has a fifty day moving average of $17.29 and a two-hundred day moving average of $18.17. The firm has a market cap of $217.36 million, a P/E ratio of 14.00 and a beta of 0.82. FinWise Bancorp has a 1-year low of $13.48 and a 1-year high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Thursday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The company had revenue of $26.36 million during the quarter, compared to analyst estimates of $42.32 million. FinWise Bancorp had a net margin of 10.66% and a return on equity of 8.82%. On average, sell-side analysts expect that FinWise Bancorp will post 1.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FINW. Zacks Research downgraded 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 report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.