First Western Financial (NASDAQ:MYFW) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of First Western Financial (NASDAQ:MYFW) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on MYFW. Keefe, Bruyette & Woods raised 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. Weiss Ratings upgraded shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Piper Sandler upped their price target on shares of First Western Financial from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, First Western Financial has an average rating of “Moderate Buy” and a consensus price target of $30.00.

First Western Financial Stock Performance

Shares of MYFW opened at $31.90 on Thursday. First Western Financial has a one year low of $20.40 and a one year high of $32.32. The business has a fifty day moving average of $28.84 and a 200 day moving average of $26.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market capitalization of $310.36 million, a P/E ratio of 20.58 and a beta of 0.73.

First Western Financial (NASDAQ:MYFW) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.19. The firm had revenue of $27.58 million during the quarter, compared to the consensus estimate of $27.30 million. First Western Financial had a net margin of 8.02% and a return on equity of 5.74%. As a group, sell-side analysts anticipate that First Western Financial will post 2.44 EPS for the current year.

Insider Activity at First Western Financial

In other news, CEO Scott C. Wylie sold 1,083 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.52, for a total value of $30,887.16. Following the sale, the chief executive officer directly owned 756,729 shares in the company, valued at approximately $21,581,911.08. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On First Western Financial

Several hedge funds have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of First Western Financial by 9.4% during the first quarter. Empowered Funds LLC now owns 36,468 shares of the company’s stock worth $896,000 after purchasing an additional 3,133 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of First Western Financial by 10.8% in the first quarter. Bank of America Corp DE now owns 12,053 shares of the company’s stock worth $296,000 after purchasing an additional 1,178 shares during the last quarter. North Reef Capital Management LP grew its holdings in shares of First Western Financial by 4.5% in the first quarter. North Reef Capital Management LP now owns 716,609 shares of the company’s stock worth $17,614,000 after purchasing an additional 30,655 shares during the last quarter. Sei Investments Co. increased its stake in First Western Financial by 103.7% in the 1st quarter. Sei Investments Co. now owns 98,729 shares of the company’s stock worth $2,427,000 after buying an additional 50,268 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings 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 valued at $6,434,000 after buying an additional 6,440 shares in the last quarter. Institutional investors 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.