First Western Financial, Inc. (NASDAQ:MYFW) Given Average Rating of “Hold” by Brokerages

Shares of First Western Financial, Inc. (NASDAQ:MYFW) have received a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.3333.

MYFW has been the subject of a number of recent analyst reports. Zacks Research downgraded First Western Financial from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Piper Sandler boosted their price objective on First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Hovde Group began coverage on First Western Financial in a research report on Friday. They set a “market perform” rating and a $33.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th.

Insider Activity at First Western Financial

In other news, CEO Scott C. Wylie sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $30.55, for a total transaction of $305,500.00. Following the completion of the sale, the chief executive officer owned 740,312 shares of the company’s stock, valued at $22,616,531.60. This trade represents a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 13.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of First Western Financial during the 2nd quarter worth about $17,426,000. Algebris UK Ltd. bought a new stake in First Western Financial in the 2nd quarter valued at about $8,293,000. Wellington Management Group LLP increased its position in First Western Financial by 43.6% in the 2nd quarter. Wellington Management Group LLP now owns 747,096 shares of the company’s stock valued at $23,989,000 after buying an additional 226,767 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new position in First Western Financial during the 2nd quarter worth approximately $6,261,000. Finally, Tieton Capital Management LLC acquired a new position in First Western Financial during the 2nd quarter worth approximately $6,013,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

First Western Financial Trading Down 1.0%

Shares of NASDAQ MYFW traded down $0.29 during midday trading on Friday, reaching $30.31. The stock had a trading volume of 7,120 shares, compared to its average volume of 42,679. The company’s 50 day moving average price is $31.59 and its 200 day moving average price is $29.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.02. First Western Financial has a twelve month low of $21.95 and a twelve month high of $34.36. The firm has a market cap of $295.94 million, a price-to-earnings ratio of 16.29 and a beta of 0.71.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. First Western Financial had a net margin of 9.50% and a return on equity of 6.82%. The company had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.57 million. As a group, sell-side analysts expect that First Western Financial will post 2.36 EPS for the current year.

First Western Financial Company Profile

First Western Financial, Inc is a Denver-based financial services company and the parent organization of First Western Trust Bank. The company focuses on providing integrated private banking, wealth management, and trust services to high-net-worth individuals, families, entrepreneurs, professionals, and privately held businesses.

Its private banking activities include deposit accounts, lending, and other banking solutions tailored to clients’ financial needs. Through its wealth management and trust businesses, First Western provides investment management, financial planning, fiduciary services, estate and tax planning support, and related services designed to help clients manage and preserve wealth across generations.

First Western was founded in 2004 and serves clients through offices in the western United States, with a presence concentrated in Colorado and additional markets in the region.