First Western Financial (NASDAQ:MYFW) Research Coverage Started at Hovde Group

Hovde Group assumed coverage on shares of First Western Financial (NASDAQ:MYFW) in a research note released on Friday, Marketbeat reports. The brokerage issued a hold rating and a $33.00 target price on the stock.

MYFW has been the subject of a number of other reports. Zacks Research cut First Western Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Piper Sandler upped their price objective on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings raised shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.33.

First Western Financial Price Performance

Shares of MYFW stock opened at $30.62 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market capitalization of $299.16 million, a P/E ratio of 16.46 and a beta of 0.71. The company’s 50-day simple moving average is $31.55 and its two-hundred day simple moving average is $29.19. First Western Financial has a one year low of $21.95 and a one year high of $34.36.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $28.14 million for the quarter, compared to analyst estimates of $28.57 million. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%. As a group, equities analysts anticipate that First Western Financial will post 2.36 EPS for the current year.

Insider Activity at First Western Financial

In related news, CEO Scott C. Wylie sold 10,000 shares of the business’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 sale, the chief executive officer owned 740,312 shares of the company’s stock, valued at approximately $22,616,531.60. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Western Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of First Western Financial in the second quarter valued at approximately $29,000. Public Employees Retirement System of Ohio purchased a new position in First Western Financial during the second quarter worth approximately $83,000. Deutsche Bank AG acquired a new position in First Western Financial during the second quarter worth $258,000. Bank of America Corp DE boosted its stake in First Western Financial by 10.8% during the first 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 during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in First Western Financial in the 2nd quarter valued at $736,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

First Western Financial Company Profile

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.