Piper Sandler Forecasts Strong Price Appreciation for First Western Financial (NASDAQ:MYFW) Stock

First Western Financial (NASDAQ:MYFW) had its price objective hoisted by investment analysts at Piper Sandler from $21.50 to $22.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.78% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Hovde Group upped their price objective on shares of First Western Financial from $23.00 to $24.50 and gave the stock an “outperform” rating in a research report on Monday. Keefe, Bruyette & Woods increased their price target on First Western Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday.

First Western Financial Stock Performance

NASDAQ:MYFW traded up $0.54 during mid-day trading on Monday, hitting $20.88. The company’s stock had a trading volume of 4,483 shares, compared to its average volume of 26,504. The business’s fifty day moving average is $19.09 and its two-hundred day moving average is $19.82. The stock has a market cap of $202.57 million, a price-to-earnings ratio of 23.99 and a beta of 0.65. First Western Financial has a 1 year low of $15.54 and a 1 year high of $22.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 1.06.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.20. First Western Financial had a return on equity of 3.43% and a net margin of 4.70%. The company had revenue of $24.80 million during the quarter, compared to analysts’ expectations of $24.10 million. Analysts anticipate that First Western Financial will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rhino Investment Partners Inc lifted its position in shares of First Western Financial by 322.6% in the fourth quarter. Rhino Investment Partners Inc now owns 232,189 shares of the company’s stock valued at $4,539,000 after acquiring an additional 177,248 shares in the last quarter. Mendon Capital Advisors Corp lifted its holdings in First Western Financial by 152.1% in the 4th quarter. Mendon Capital Advisors Corp now owns 257,598 shares of the company’s stock valued at $5,036,000 after purchasing an additional 155,432 shares in the last quarter. Curi RMB Capital LLC boosted its stake in First Western Financial by 120.0% during the 4th quarter. Curi RMB Capital LLC now owns 196,656 shares of the company’s stock worth $3,845,000 after purchasing an additional 107,282 shares during the last quarter. Jacobs Asset Management LLC grew its holdings in shares of First Western Financial by 50.0% during the fourth quarter. Jacobs Asset Management LLC now owns 312,124 shares of the company’s stock worth $6,102,000 after buying an additional 104,010 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of First Western Financial in the fourth quarter valued at about $1,162,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

About First Western Financial

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.