Zacks Research Upgrades First Western Financial (NASDAQ:MYFW) to Hold

First Western Financial (NASDAQ:MYFW) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Wall Street Zen raised First Western Financial from a “sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, First Western Financial currently has an average rating of “Moderate Buy” and an average target price of $24.33.

First Western Financial Trading Up 1.4%

NASDAQ MYFW opened at $23.02 on Monday. First Western Financial has a 12 month low of $17.10 and a 12 month high of $24.88. The stock has a market cap of $223.75 million, a PE ratio of 19.34 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $22.51 and its 200-day moving average price is $21.51.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.13). First Western Financial had a return on equity of 4.55% and a net margin of 6.50%.The business had revenue of $22.42 million for the quarter, compared to analysts’ expectations of $25.28 million. Equities research analysts forecast that First Western Financial will post 1.5 earnings per share for the current year.

Insider Transactions at First Western Financial

In other news, CEO Scott C. Wylie sold 5,000 shares of First Western Financial 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 completion of the transaction, the chief executive officer owned 757,164 shares in the company, valued at approximately $17,861,498.76. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.90% of the stock is owned by corporate insiders.

Institutional Trading of First Western Financial

Large investors have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC boosted its position in First Western Financial by 5.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 98,717 shares of the company’s stock worth $2,227,000 after acquiring an additional 5,165 shares during the period. Bridgeway Capital Management LLC raised its position in shares of First Western Financial by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 82,533 shares of the company’s stock worth $1,862,000 after purchasing an additional 2,288 shares during the period. Mendon Capital Advisors Corp raised its position in First Western Financial by 9.1% during the second quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company’s stock valued at $6,329,000 after buying an additional 23,317 shares during the period. Jane Street Group LLC acquired a new position in First Western Financial during the second quarter valued at $245,000. Finally, Marshall Wace LLP acquired a new position in First Western Financial in the 2nd quarter worth about $2,194,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

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.