First Western Financial (NASDAQ:MYFW) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Western Financial (NASDAQ:MYFW) posted its quarterly earnings results on Thursday. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01, FiscalAI reports. First Western Financial had a return on equity of 5.74% and a net margin of 8.02%.The firm had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.57 million.

First Western Financial Price Performance

First Western Financial stock traded down $0.14 during mid-day trading on Thursday, hitting $32.26. 45,182 shares of the company were exchanged, compared to its average volume of 40,134. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $30.69 and a 200 day moving average of $27.61. First Western Financial has a 1-year low of $20.40 and a 1-year high of $34.36. The company has a market capitalization of $313.89 million, a PE ratio of 20.81 and a beta of 0.71.

Insider Activity at First Western Financial

In other news, CEO Scott C. Wylie sold 1,083 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.52, for a total value of $30,887.16. Following the sale, the chief executive officer owned 756,729 shares in the company, valued at approximately $21,581,911.08. The trade was a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On First Western Financial

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in First Western Financial by 37.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock valued at $38,000 after purchasing an additional 441 shares in the last quarter. Focus Partners Wealth acquired a new position in First Western Financial in the third quarter worth $49,000. JPMorgan Chase & Co. grew its holdings in shares of First Western Financial by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock worth $169,000 after purchasing an additional 1,555 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of First Western Financial by 45.2% during the fourth quarter. Wells Fargo & Company MN now owns 10,605 shares of the company’s stock worth $284,000 after purchasing an additional 3,299 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of First Western Financial in the second quarter valued at $245,000. 60.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MYFW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Piper Sandler lifted their price target on shares of First Western Financial from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Zacks Research cut shares of First Western Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

First Western Financial Company Profile

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.