First Western Financial (NASDAQ:MYFW – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
A number of other equities research analysts also recently weighed in on MYFW. Piper Sandler upped their price target on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Western Financial in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.00.
Read Our Latest Report on First Western Financial
First Western Financial Trading Up 2.5%
First Western Financial (NASDAQ:MYFW – Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.57 million. First Western Financial had a return on equity of 6.91% and a net margin of 9.50%. On average, equities analysts forecast that First Western Financial will post 2.36 EPS for the current fiscal year.
Insider Buying and Selling
In other First Western Financial news, CEO Scott C. Wylie sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $28.52, for a total value of $30,887.16. Following the completion of the transaction, the chief executive officer directly owned 756,729 shares in the company, valued at $21,581,911.08. This trade represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 13.10% of the company’s stock.
Institutional Investors Weigh In On First Western Financial
A number of large investors have recently made changes to their positions in the company. North Reef Capital Management LP lifted its position in shares of First Western Financial by 4.5% in the 1st quarter. North Reef Capital Management LP now owns 716,609 shares of the company’s stock valued at $17,614,000 after acquiring an additional 30,655 shares in the last quarter. Algebris UK Ltd. grew its position in First Western Financial by 8.0% during the 4th quarter. Algebris UK Ltd. now owns 340,807 shares of the company’s stock worth $9,141,000 after purchasing an additional 25,358 shares in the last quarter. Mendon Capital Advisors Corp grew its position in First Western Financial by 9.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company’s stock worth $6,329,000 after purchasing an additional 23,317 shares in the last quarter. Dimensional Fund Advisors LP grew its position in First Western Financial by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 261,734 shares of the company’s stock worth $6,434,000 after purchasing an additional 6,440 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in First Western Financial by 119.2% during the 4th quarter. Wellington Management Group LLP now owns 242,680 shares of the company’s stock valued at $6,506,000 after purchasing an additional 131,955 shares during the period. Institutional investors and hedge funds 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.
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