First Western Financial (NASDAQ:MYFW) Raised to “Hold” at Wall Street Zen

First Western Financial (NASDAQ:MYFW) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other brokerages have also weighed in on MYFW. Zacks Research lowered First Western Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of First Western Financial in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, First Western Financial has an average rating of “Hold” and a consensus price target of $24.33.

First Western Financial Trading Up 2.3%

Shares of First Western Financial stock opened at $23.54 on Friday. The firm’s 50 day moving average is $22.89 and its 200 day moving average is $22.38. The firm has a market capitalization of $228.57 million, a PE ratio of 18.25 and a beta of 0.89. First Western Financial has a 1 year low of $17.10 and a 1 year high of $24.88. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

First Western Financial (NASDAQ:MYFW) last issued its earnings results on Friday, March 4th. The company reported $0.62 earnings per share for the quarter. The firm had revenue of $23.41 million for the quarter. First Western Financial had a net margin of 6.91% and a return on equity of 4.91%. Equities research analysts forecast that First Western Financial will post 1.5 earnings per share for the current fiscal year.

Insider Activity at First Western Financial

In related news, CEO Scott C. Wylie sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $23.59, for a total value of $117,950.00. Following the sale, the chief executive officer directly owned 757,164 shares in the company, valued at $17,861,498.76. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. First Western Trust Bank boosted its stake in shares of First Western Financial by 0.4% in the 2nd quarter. First Western Trust Bank now owns 112,665 shares of the company’s stock valued at $2,542,000 after purchasing an additional 495 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in First Western Financial by 1,470.6% in the third quarter. New York State Common Retirement Fund now owns 1,068 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in First Western Financial by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock valued at $169,000 after buying an additional 1,555 shares during the period. Empowered Funds LLC boosted its position in First Western Financial by 8.0% during the first quarter. Empowered Funds LLC now owns 24,763 shares of the company’s stock valued at $487,000 after acquiring an additional 1,824 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in First Western Financial by 12.3% during the 1st quarter. Bank of New York Mellon Corp now owns 18,664 shares of the company’s stock worth $367,000 after acquiring an additional 2,047 shares during the period. Institutional investors own 60.26% of the company’s stock.

First Western Financial Company Profile

First Western Financial, Inc, a financial holding company, provides wealth advisory, private baking, personal trust, investment management, mortgage lending, and institutional asset management services. The company operates through two segments: Wealth Management and Mortgage. The Wealth Management segment provides deposit, loan, life insurance, and trust and investment management advisory products and services.