Zacks Investment Research Lowers First Western Financial (MYFW) to Sell
First Western Financial (NASDAQ:MYFW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
According to Zacks, “First Western Financial Inc. operates as a bank holding company. It provides wealth management services which include deposit, loans, trust, wealth planning and investment management products and services through its subsidiaries. First Western Financial Inc. is based in Denver, United States. “
Other equities analysts also recently issued reports about the stock. Stephens downgraded shares of First Western Financial from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $21.00 to $16.00 in a research note on Monday, October 29th. Keefe, Bruyette & Woods assumed coverage on shares of First Western Financial in a research note on Monday, August 13th. They set an “outperform” rating and a $24.00 price objective for the company.
First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). First Western Financial had a return on equity of 3.74% and a net margin of 5.98%. The business had revenue of $14.43 million for the quarter. On average, research analysts anticipate that First Western Financial will post 0.61 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of MYFW. Bank of Montreal Can bought a new stake in shares of First Western Financial in the 3rd quarter valued at about $341,000. Northpointe Capital LLC bought a new stake in shares of First Western Financial in the 3rd quarter valued at about $2,884,000. Trilogy Capital Inc. bought a new stake in shares of First Western Financial in the 3rd quarter valued at about $247,000. Victory Capital Management Inc. bought a new stake in shares of First Western Financial in the 3rd quarter valued at about $188,000. Finally, Wasatch Advisors Inc. bought a new stake in shares of First Western Financial in the 3rd quarter valued at about $3,290,000. 12.32% of the stock is currently owned by institutional investors.
First Western Financial Company Profile
First Western Financial, Inc, a financial holding company, through its subsidiaries, provides an integrated suite of wealth management services comprising private banking, personal trust, investment management, mortgage loans, and institutional asset management services. It operates through three segments: Wealth Management, Capital Management, and Mortgage.
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