Zacks Research Downgrades First Western Financial (NASDAQ:MYFW) to Strong Sell

First Western Financial (NASDAQ:MYFW) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also commented on the company. Wall Street Zen raised First Western Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings restated a “hold (c)” rating on shares of First Western Financial in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, First Western Financial presently has a consensus rating of “Hold” and a consensus target price of $24.33.

First Western Financial Stock Down 1.0%

Shares of NASDAQ:MYFW opened at $25.72 on Monday. The company’s fifty day moving average is $26.02 and its two-hundred day moving average is $23.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.04. First Western Financial has a 1-year low of $17.52 and a 1-year high of $28.00. The stock has a market capitalization of $249.74 million, a price-to-earnings ratio of 19.05 and a beta of 0.76.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.13). The business had revenue of $26.71 million during the quarter, compared to analyst estimates of $27.50 million. First Western Financial had a net margin of 7.08% and a return on equity of 5.09%. Equities analysts anticipate that First Western Financial will post 1.5 EPS for the current year.

Insider Transactions at First Western Financial

In other news, Director Scott C. Mitchell sold 3,178 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $23.96, for a total value of $76,144.88. Following the completion of the transaction, the director owned 5,423 shares of the company’s stock, valued at approximately $129,935.08. This represents a 36.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David R. Duncan sold 8,626 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.56, for a total value of $220,480.56. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 36,964 shares of company stock worth $938,485. Company insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On First Western Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in First Western Financial by 1,470.6% during the 3rd 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. BNP Paribas Financial Markets boosted its holdings in shares of First Western Financial by 37.1% in the third quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock valued at $38,000 after acquiring an additional 441 shares in the last quarter. Focus Partners Wealth bought a new position in shares of First Western Financial in the third quarter valued at approximately $49,000. JPMorgan Chase & Co. increased its stake in shares of First Western Financial by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock valued at $169,000 after acquiring an additional 1,555 shares during the period. Finally, R Squared Ltd bought a new stake in First Western Financial during the fourth quarter worth approximately $208,000. Institutional investors own 60.26% of the company’s stock.

About First Western Financial

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.