First Western Financial (NASDAQ:MYFW) Stock Rating Lowered by Zacks Research

First Western Financial (NASDAQ:MYFW) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Piper Sandler increased their price target on First Western Financial from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings raised First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

First Western Financial Stock Up 1.6%

First Western Financial stock opened at $31.90 on Thursday. First Western Financial has a twelve month low of $20.40 and a twelve month high of $32.32. The stock’s fifty day simple moving average is $28.84 and its 200-day simple moving average is $26.70. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $310.36 million, a P/E ratio of 20.58 and a beta of 0.73.

First Western Financial (NASDAQ:MYFW) last released its earnings results on Thursday, April 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.19. First Western Financial had a return on equity of 5.74% and a net margin of 8.02%.The firm had revenue of $27.58 million during the quarter, compared to analyst estimates of $27.30 million. As a group, equities analysts expect that First Western Financial will post 2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Scott C. Wylie sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.52, for a total value of $30,887.16. Following the completion of the transaction, the chief executive officer directly owned 756,729 shares of the company’s stock, valued at $21,581,911.08. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.10% of the stock is currently owned by insiders.

Institutional Trading of First Western Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of First Western Financial by 37.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock worth $38,000 after buying an additional 441 shares during the last quarter. Focus Partners Wealth acquired a new stake in First Western Financial during the 3rd quarter worth $49,000. JPMorgan Chase & Co. raised its stake in First Western Financial by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock worth $169,000 after acquiring an additional 1,555 shares in the last quarter. R Squared Ltd purchased a new stake in First Western Financial in the fourth quarter valued at $208,000. Finally, Jane Street Group LLC purchased a new stake in First Western Financial in the second quarter valued at $245,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

First Western Financial Company Profile

First Western Financial, Inc (NASDAQ: MYFW) is a Denver-based bank holding company that, through its principal subsidiary First Western Trust, delivers a suite of personalized financial services. The company’s core activities center on wealth management and trust administration for high-net-worth individuals, families and institutions. In addition, First Western Financial offers a comprehensive range of deposit products—such as checking accounts, savings accounts, money market funds and certificates of deposit—designed to meet the liquidity and income needs of its clients.

Complementing its deposit offerings, First Western Financial provides fiduciary and investment management services, including estate planning, charitable giving strategies and multi-generational wealth transfer.