FinWise Bancorp (NASDAQ:FINW) Short Interest Down 14.4% in March

Key Points

• Short interest down 14.4% — short interest fell to 107,079 shares as of March 31 (about 1.0% of shares), with a days-to-cover ratio of 7.6 days.
• Company missed estimates — quarterly EPS was $0.27 versus a $0.35 consensus and revenue was $26.36M versus $42.32M expected, indicating weaker-than-expected results.
• Shares traded up 5.1% to $17.23 (market cap about $235.7M) and institutional investors own roughly 35.4% of the stock; analysts hold a consensus "Hold" rating with an average price target of $22.00.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 107,079 shares, a drop of 14.4% from the March 15th total of 125,147 shares. Based on an average daily trading volume, of 14,011 shares, the days-to-cover ratio is currently 7.6 days. Currently, 1.0% of the shares of the company are sold short.

Hedge Funds Weigh In On FinWise Bancorp

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in FinWise Bancorp during the 2nd quarter valued at about $25,000. Bank of America Corp DE increased its stake in FinWise Bancorp by 3,887.7% during the 2nd quarter. Bank of America Corp DE now owns 2,911 shares of the company's stock valued at $44,000 after buying an additional 2,838 shares during the period. JPMorgan Chase & Co. acquired a new position in FinWise Bancorp during the 2nd quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in FinWise Bancorp during the 2nd quarter valued at about $74,000. Finally, Cubist Systematic Strategies LLC acquired a new position in FinWise Bancorp during the 1st quarter valued at about $104,000. Institutional investors and hedge funds own 35.41% of the company's stock.

FinWise Bancorp Trading Up 5.1%

NASDAQ:FINW traded up $0.83 during mid-day trading on Friday, hitting $17.23. The stock had a trading volume of 15,455 shares, compared to its average volume of 17,633. The stock has a market capitalization of $235.71 million, a price-to-earnings ratio of 15.25 and a beta of 0.84. The company has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $17.59. FinWise Bancorp has a 52 week low of $13.48 and a 52 week high of $22.49.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08). The firm 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 8.70%. As a group, equities research analysts anticipate that FinWise Bancorp will post 1.03 earnings per share for the current year.

Wall Street Analyst Weigh In

FINW has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of FinWise Bancorp in a research report on Monday, December 29th. Zacks Research downgraded shares of FinWise Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. One 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 stock 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.

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