First Western Financial (NASDAQ:MYFW) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of First Western Financial (NASDAQ:MYFW) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other brokerages have also commented on MYFW. Piper Sandler lifted their price objective on shares of First Western Financial from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings raised shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, First Western Financial presently has a consensus rating of “Buy” and a consensus target price of $27.00.

First Western Financial Stock Down 2.4%

MYFW opened at $27.74 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.05 and a quick ratio of 1.04. The company’s 50-day moving average is $25.38 and its 200 day moving average is $25.00. First Western Financial has a fifty-two week low of $20.07 and a fifty-two week high of $28.41. The firm has a market capitalization of $270.05 million, a P/E ratio of 17.90 and a beta of 0.66.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.44 by $0.19. The business had revenue of $28.27 million for the quarter, compared to analyst estimates of $27.30 million. First Western Financial had a net margin of 8.02% and a return on equity of 5.81%. Research analysts expect that First Western Financial will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Western Financial news, Director David R. Duncan sold 8,626 shares of First Western Financial stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.56, for a total value of $220,480.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 15.50% of the company’s stock.

Institutional Trading of First Western Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. North Reef Capital Management LP raised its position in shares of First Western Financial by 11.0% in the fourth quarter. North Reef Capital Management LP now owns 685,954 shares of the company’s stock valued at $18,390,000 after purchasing an additional 68,130 shares during the period. Algebris UK Ltd. raised its position in shares of First Western Financial by 8.0% in the fourth quarter. Algebris UK Ltd. now owns 340,807 shares of the company’s stock valued at $9,141,000 after purchasing an additional 25,358 shares during the period. Mendon Capital Advisors Corp raised its position in shares of First Western Financial by 9.1% in the second quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company’s stock valued at $6,329,000 after purchasing an additional 23,317 shares during the period. Dimensional Fund Advisors LP raised its position in shares of First Western Financial by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 255,294 shares of the company’s stock valued at $6,844,000 after purchasing an additional 5,217 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of First Western Financial by 119.2% in the fourth quarter. Wellington Management Group LLP now owns 242,680 shares of the company’s stock valued at $6,506,000 after purchasing an additional 131,955 shares during the period. 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.