First Western Financial (NASDAQ:MYFW) Posts Earnings Results, Hits Expectations

First Western Financial (NASDAQ:MYFW) announced its quarterly earnings results on Thursday. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28, Zacks reports. First Western Financial had a net margin of 3.33% and a return on equity of 2.44%.

First Western Financial Stock Performance

Shares of First Western Financial stock traded up $0.02 during mid-day trading on Thursday, hitting $18.13. 14,013 shares of the stock were exchanged, compared to its average volume of 21,080. First Western Financial has a 12 month low of $12.84 and a 12 month high of $22.32. The company has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $19.30. The company has a market capitalization of $175.14 million, a P/E ratio of 29.24 and a beta of 0.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.07.

Insider Activity

In other news, Director David R. Duncan sold 8,600 shares of First Western Financial stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $19.03, for a total transaction of $163,658.00. Following the sale, the director now directly owns 8,760 shares in the company, valued at $166,702.80. The trade was a 49.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MYFW shares. Piper Sandler increased their price objective on First Western Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on First Western Financial from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.