Investment analysts at Hovde Group started coverage on shares of First Western Financial (NASDAQ:MYFW – Get Free Report) in a research note issued to investors on Friday. The firm set a “market perform” rating and a $33.00 price target on the stock. Hovde Group’s target price indicates a potential upside of 8.05% from the company’s current price.
MYFW has been the subject of a number of other reports. Piper Sandler increased their target price on shares of First Western Financial from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded First Western Financial from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, First Western Financial currently has an average rating of “Hold” and an average target price of $32.33.
Read Our Latest Analysis on First Western Financial
First Western Financial Trading Down 0.2%
First Western Financial (NASDAQ:MYFW – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $28.14 million during the quarter, compared to analyst estimates of $28.57 million. First Western Financial had a net margin of 9.50% and a return on equity of 6.82%. As a group, sell-side analysts predict that First Western Financial will post 2.36 EPS for the current year.
Insider Transactions at First Western Financial
In other First Western Financial news, CEO Scott C. Wylie sold 10,000 shares of the company’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 completion of the transaction, the chief executive officer directly owned 740,312 shares in the company, valued at approximately $22,616,531.60. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.10% of the company’s stock.
Institutional Investors Weigh In On First Western Financial
A number of large investors have recently modified their holdings of MYFW. Legal & General Group Plc bought a new position in First Western Financial in the 2nd quarter valued at approximately $29,000. Bank of America Corp DE increased its holdings in First Western Financial by 10.8% in the 1st quarter. Bank of America Corp DE now owns 12,053 shares of the company’s stock worth $296,000 after buying an additional 1,178 shares in the last quarter. Tieton Capital Management LLC raised its position in First Western Financial by 1.0% in the 4th quarter. Tieton Capital Management LLC now owns 183,611 shares of the company’s stock worth $4,923,000 after buying an additional 1,735 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in First Western Financial in the 2nd quarter worth about $83,000. Finally, Empowered Funds LLC lifted its stake in First Western Financial by 9.4% during the 1st quarter. Empowered Funds LLC now owns 36,468 shares of the company’s stock valued at $896,000 after acquiring an additional 3,133 shares during the period. Institutional investors own 60.26% of the company’s stock.
About First Western Financial
First Western Financial, Inc is a Denver-based financial services company and the parent organization of First Western Trust Bank. The company focuses on providing integrated private banking, wealth management, and trust services to high-net-worth individuals, families, entrepreneurs, professionals, and privately held businesses.
Its private banking activities include deposit accounts, lending, and other banking solutions tailored to clients’ financial needs. Through its wealth management and trust businesses, First Western provides investment management, financial planning, fiduciary services, estate and tax planning support, and related services designed to help clients manage and preserve wealth across generations.
First Western was founded in 2004 and serves clients through offices in the western United States, with a presence concentrated in Colorado and additional markets in the region.
Featured Articles
- Five stocks we like better than First Western Financial
- 3 Zero-Fee ETFs Worth More Than Their Cost
- 3 Nimble Free Cash Flow Names With Light Assets
- Intel’s Ohio Lifeline? Why the SK Hynix Talks Matter
- Generac Plugs into Amazon for an $8B AI-Powered Deal
Receive News & Ratings for First Western Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Western Financial and related companies with MarketBeat.com's FREE daily email newsletter.
