Renaissance Technologies LLC Decreases Stake in First Western Financial, Inc. $MYFW

Renaissance Technologies LLC lowered its position in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 55.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,100 shares of the company’s stock after selling 22,700 shares during the quarter. Renaissance Technologies LLC owned 0.19% of First Western Financial worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of First Western Financial by 119.2% during the fourth quarter. Wellington Management Group LLP now owns 242,680 shares of the company’s stock valued at $6,506,000 after acquiring an additional 131,955 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in First Western Financial during the third quarter worth $3,012,000. Marshall Wace LLP purchased a new position in First Western Financial in the second quarter worth $2,194,000. Northwestern Mutual Wealth Management Co. boosted its position in First Western Financial by 36,113.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 76,048 shares of the company’s stock worth $2,039,000 after purchasing an additional 75,838 shares during the last quarter. Finally, North Reef Capital Management LP grew its stake in First Western Financial by 11.0% in the 4th quarter. North Reef Capital Management LP now owns 685,954 shares of the company’s stock valued at $18,390,000 after purchasing an additional 68,130 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MYFW has been the topic of a number of recent analyst reports. Zacks Research cut First Western Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Piper Sandler increased their price target on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on shares of First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Western Financial has an average rating of “Hold” and an average target price of $32.00.

First Western Financial Price Performance

Shares of NASDAQ MYFW opened at $31.62 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $31.75 and a two-hundred day simple moving average of $28.28. First Western Financial, Inc. has a 1-year low of $21.11 and a 1-year high of $34.36. The firm has a market cap of $308.93 million, a price-to-earnings ratio of 17.00 and a beta of 0.72.

First Western Financial (NASDAQ:MYFW) last issued its earnings results on Thursday, July 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%.The firm had revenue of $28.14 million for the quarter, compared to analyst estimates of $28.57 million. Analysts anticipate that First Western Financial, Inc. will post 2.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Scott C. Wylie sold 1,083 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $28.52, for a total value of $30,887.16. Following the sale, the chief executive officer directly owned 756,729 shares in the company, valued at approximately $21,581,911.08. The trade was a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.10% of the company’s stock.

First Western Financial 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.