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

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

FinWise Bancorp Price Performance

NASDAQ FINW traded down $0.01 during mid-day trading on Friday, reaching $17.68. The stock had a trading volume of 9,542 shares, compared to its average volume of 17,466. The stock has a market cap of $233.55 million, a PE ratio of 16.68 and a beta of 0.69. The company has a fifty day moving average price of $15.84 and a 200 day moving average price of $12.84. FinWise Bancorp has a 1 year low of $8.72 and a 1 year high of $17.98.

Institutional Investors Weigh In On FinWise Bancorp

Several institutional investors have recently modified their holdings of FINW. Quadrature Capital Ltd bought a new position in shares of FinWise Bancorp in the 1st quarter worth approximately $164,000. Vanguard Group Inc. increased its holdings in FinWise Bancorp by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 376,802 shares of the company’s stock valued at $3,787,000 after acquiring an additional 24,457 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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. Foundations Investment Advisors LLC purchased a new stake in shares of FinWise Bancorp during the 2nd quarter worth approximately $221,000. Finally, Empowered Funds LLC raised its stake in FinWise Bancorp by 8.0% during the first quarter. Empowered Funds LLC now owns 18,936 shares of the company’s stock valued at $190,000 after purchasing an additional 1,400 shares in the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

FinWise Bancorp Company Profile

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.