First Western Financial (NASDAQ:MYFW) Upgraded by Zacks Research to “Strong-Buy” Rating

First Western Financial (NASDAQ:MYFW) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

MYFW has been the topic of several other research reports. Wall Street Zen raised shares of First Western Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Western Financial in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.33.

First Western Financial Stock Down 1.1%

MYFW opened at $26.38 on Monday. The firm has a market cap of $256.15 million, a P/E ratio of 20.45 and a beta of 0.77. The business’s fifty day simple moving average is $25.21 and its 200 day simple moving average is $23.67. First Western Financial has a 52 week low of $17.52 and a 52 week high of $28.00. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.37.

First Western Financial (NASDAQ:MYFW) last released its earnings results on Thursday, October 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). First Western Financial had a net margin of 6.91% and a return on equity of 4.91%. The firm had revenue of $26.27 million during the quarter, compared to analysts’ expectations of $25.61 million. As a group, equities research analysts anticipate that First Western Financial will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott C. Wylie sold 16,171 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.72, for a total transaction of $415,918.12. Following the completion of the transaction, the chief executive officer owned 756,482 shares of the company’s stock, valued at approximately $19,456,717.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MYFW. Los Angeles Capital Management LLC acquired a new stake in First Western Financial during the second quarter worth about $755,000. Sippican Capital Advisors grew its holdings in shares of First Western Financial by 12.6% during the 2nd quarter. Sippican Capital Advisors now owns 45,100 shares of the company’s stock worth $1,017,000 after purchasing an additional 5,030 shares during the period. Persistent Asset Partners Ltd increased its position in First Western Financial by 34.6% during the 2nd quarter. Persistent Asset Partners Ltd now owns 23,406 shares of the company’s stock worth $528,000 after purchasing an additional 6,022 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 buying an additional 441 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in 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 buying an additional 1,555 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

First Western Financial Company Profile

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.