FinWise Bancorp (NASDAQ:FINW) Short Interest Down 17.7% in February
by Renee Jackson · The Cerbat GemFinWise Bancorp (NASDAQ:FINW – Get Free Report) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 98,444 shares, a decline of 17.7% from the February 12th total of 119,589 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 9,207 shares, the days-to-cover ratio is presently 10.7 days. Based on an average daily volume of 9,207 shares, the days-to-cover ratio is presently 10.7 days. Approximately 0.9% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of FinWise Bancorp by 4,847.1% during the 4th quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock worth $55,000 after purchasing an additional 3,393 shares during the period. Cubist Systematic Strategies LLC bought a new stake in FinWise Bancorp in the first quarter worth about $104,000. Goldman Sachs Group Inc. lifted its stake in FinWise Bancorp by 186.3% in 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. Empowered Funds LLC boosted its position in shares of FinWise Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock valued at $421,000 after buying an additional 1,591 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of FinWise Bancorp by 169.2% during the first quarter. Jane Street Group LLC now owns 33,196 shares of the company’s stock valued at $581,000 after buying an additional 20,866 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FINW. Zacks Research cut FinWise Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of FinWise Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.
Check Out Our Latest Stock Report on FinWise Bancorp
FinWise Bancorp Stock Performance
FINW stock traded down $0.29 during trading on Tuesday, hitting $15.84. 11,931 shares of the company’s stock traded hands, compared to its average volume of 19,997. FinWise Bancorp has a 52 week low of $13.48 and a 52 week high of $22.49. The stock has a market capitalization of $215.27 million, a price-to-earnings ratio of 14.02 and a beta of 0.82. The business has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $18.19.
FinWise Bancorp (NASDAQ:FINW – Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The business had revenue of $26.36 million during the quarter, compared to the consensus estimate of $42.32 million. FinWise Bancorp had a net margin of 10.66% and a return on equity of 8.82%. Research analysts forecast that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.
FinWise Bancorp Company Profile
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.