First Western Financial (NASDAQ:MYFW – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60, Zacks reports. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%. The firm had revenue of $28.87 million for the quarter, compared to the consensus estimate of $29.49 million.
First Western Financial Trading Up 2.0%
Shares of First Western Financial stock traded up $0.60 during trading on Thursday, hitting $30.14. The company’s stock had a trading volume of 74,966 shares, compared to its average volume of 43,020. The stock has a market cap of $294.47 million, a price-to-earnings ratio of 16.20 and a beta of 0.76. The stock has a 50-day moving average price of $30.56 and a two-hundred day moving average price of $30.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.02 and a quick ratio of 1.01. First Western Financial has a 52 week low of $22.00 and a 52 week high of $34.36.
Analysts Set New Price Targets
MYFW has been the topic of several research reports. Piper Sandler upped their target price on 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 target on First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Hovde Group started coverage on shares of First Western Financial in a research report on Friday, September 18th. They set a “hold” rating and a $33.00 price objective for the company. Weiss Ratings upgraded shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Finally, Zacks Research upgraded shares of First Western Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Western Financial has a consensus rating of “Hold” and an average price target of $32.33.
Check Out Our Latest Report on First Western Financial
Insiders Place Their Bets
In related news, CEO Scott C. Wylie sold 10,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $30.55, for a total value of $305,500.00. Following the transaction, the chief executive officer owned 740,312 shares in the company, valued at $22,616,531.60. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.10% of the stock is owned by corporate insiders.
About First Western Financial
First Western Financial, Inc is a financial holding company headquartered in Denver, Colorado. Through its principal subsidiary, First Western Trust Bank, the company provides private banking, wealth management, trust and investment management, and commercial banking services to individuals, families, entrepreneurs, professionals, and businesses.
Its banking activities include deposit accounts, residential and commercial real estate lending, commercial loans, construction financing, and other credit solutions.
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