Short Interest in FinWise Bancorp (NASDAQ:FINW) Increases By 563.6%

FinWise Bancorp (NASDAQ:FINW - Get Free Report) saw a large increase in short interest in April. As of April 30th, there was short interest totalling 65,700 shares, an increase of 563.6% from the April 15th total of 9,900 shares. Based on an average trading volume of 23,700 shares, the days-to-cover ratio is presently 2.8 days. Currently, 0.8% of the company's stock are short sold.

Institutional Investors Weigh In On FinWise Bancorp

Several hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its stake in shares of FinWise Bancorp by 8.0% in the 1st 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 during the period. Norden Group LLC lifted its position in shares of FinWise Bancorp by 100.0% in the first quarter. Norden Group LLC now owns 28,400 shares of the company's stock valued at $285,000 after acquiring an additional 14,200 shares in the last quarter. Siena Capital Partners GP LLC increased its position in shares of FinWise Bancorp by 195.6% during the third quarter. Siena Capital Partners GP LLC now owns 97,436 shares of the company's stock worth $872,000 after purchasing an additional 64,470 shares in the last quarter. US Bancorp DE acquired a new stake in FinWise Bancorp during the 4th quarter worth $5,023,000. Finally, Vanguard Group Inc. grew its holdings in shares of FinWise Bancorp by 6.9% during the first quarter. Vanguard Group Inc. now owns 376,802 shares of the company's stock worth $3,787,000 after buying an additional 24,457 shares in the last quarter. Hedge funds and other institutional investors own 35.41% of the company's stock.

FinWise Bancorp Trading Down 0.5 %

NASDAQ:FINW traded down $0.05 during midday trading on Friday, hitting $10.60. 3,564 shares of the company traded hands, compared to its average volume of 25,369. The firm has a market capitalization of $135.57 million, a P/E ratio of 8.22 and a beta of 0.71. FinWise Bancorp has a 12-month low of $7.61 and a 12-month high of $14.98. The firm's fifty day moving average is $10.09 and its 200-day moving average is $11.28.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. The company had revenue of $23.11 million during the quarter, compared to analyst estimates of $19.68 million. FinWise Bancorp had a net margin of 18.63% and a return on equity of 11.20%. During the same quarter last year, the business posted $0.29 EPS. On average, research analysts expect that FinWise Bancorp will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on FinWise Bancorp from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 30th.

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.

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