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

FinWise Bancorp (NASDAQ:FINW) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 39,000 shares, a growth 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. Approximately 0.4% of the shares of the company are short sold.

FinWise Bancorp Stock Performance

FINW stock opened at $16.41 on Tuesday. The firm has a market cap of $216.78 million, a PE ratio of 15.48 and a beta of 0.77. The firm’s fifty day moving average is $17.22 and its 200 day moving average is $15.06. FinWise Bancorp has a one year low of $8.72 and a one year high of $20.50.

Institutional Trading of FinWise Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in FinWise Bancorp during the third quarter valued at $47,000. Geode Capital Management LLC grew its position in FinWise Bancorp by 21.7% during the third quarter. Geode Capital Management LLC now owns 91,608 shares of the company’s stock valued at $1,429,000 after buying an additional 16,309 shares during the period. Wasatch Advisors LP acquired a new stake in FinWise Bancorp during the third quarter valued at $6,209,000. Empowered Funds LLC grew its position in FinWise Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 21,448 shares of the company’s stock valued at $335,000 after buying an additional 1,072 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in FinWise Bancorp by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 93,853 shares of the company’s stock valued at $958,000 after buying an additional 19,235 shares during the period. Institutional investors and hedge funds own 35.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of FinWise Bancorp in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $21.00 price objective on the stock. Stephens increased their price objective on shares of 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.