Zacks Investment Research Lowers First Western Financial (MYFW) to Sell
Zacks Investment Research downgraded shares of First Western Financial (NASDAQ:MYFW) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
According to Zacks, “First Western Financial Inc. operates as a bank holding company. It provides wealth management services which include deposit, loans, trust, wealth planning and investment management products and services through its subsidiaries. First Western Financial Inc. is based in Denver, United States. “
MYFW has been the topic of several other reports. Keefe, Bruyette & Woods initiated coverage on First Western Financial in a research note on Monday, August 13th. They issued an outperform rating and a $24.00 price target on the stock. Stephens lowered First Western Financial from an overweight rating to an equal weight rating and dropped their price target for the company from $21.00 to $16.00 in a research note on Monday, October 29th.
First Western Financial (NASDAQ:MYFW) last announced its earnings results on Thursday, October 25th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). First Western Financial had a net margin of 5.98% and a return on equity of 3.74%. The company had revenue of $14.43 million during the quarter. On average, equities research analysts predict that First Western Financial will post 0.61 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of MYFW. Victory Capital Management Inc. acquired a new position in First Western Financial in the third quarter valued at approximately $188,000. Trilogy Capital Inc. acquired a new position in shares of First Western Financial during the third quarter worth approximately $247,000. BlackRock Inc. acquired a new position in shares of First Western Financial during the third quarter worth approximately $301,000. Vanguard Group Inc. acquired a new position in shares of First Western Financial during the third quarter worth approximately $337,000. Finally, Waldron Private Wealth LLC acquired a new position in shares of First Western Financial during the third quarter worth approximately $337,000. 31.28% of the stock is currently owned by hedge funds and other institutional investors.
First Western Financial Company Profile
First Western Financial, Inc, a financial holding company, through its subsidiaries, provides an integrated suite of wealth management services comprising private banking, personal trust, investment management, mortgage loans, and institutional asset management services. It operates through three segments: Wealth Management, Capital Management, and Mortgage.
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