First Western Financial (NASDAQ:MYFW) Raised to Hold at Zacks Research

First Western Financial (NASDAQ:MYFW) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings raised First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.33.

First Western Financial Price Performance

NASDAQ MYFW opened at $24.58 on Monday. The stock has a market capitalization of $239.41 million, a P/E ratio of 18.21 and a beta of 0.76. First Western Financial has a 1 year low of $17.52 and a 1 year high of $28.00. The business’s fifty day moving average is $25.13 and its two-hundred day moving average is $24.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.05.

First Western Financial (NASDAQ:MYFW) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $26.71 million for the quarter, compared to the consensus estimate of $27.50 million. First Western Financial had a return on equity of 5.06% and a net margin of 7.08%. On average, research analysts forecast that First Western Financial will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David R. Duncan sold 8,626 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott C. Mitchell sold 3,178 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $23.96, for a total transaction of $76,144.88. Following the completion of the sale, the director owned 5,423 shares of the company’s stock, valued at approximately $129,935.08. This trade represents a 36.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 20,793 shares of company stock worth $522,567 in the last 90 days. 17.90% of the stock is owned by company insiders.

Institutional Trading of First Western Financial

A number of hedge funds have recently modified their holdings of MYFW. New York State Common Retirement Fund boosted its position in shares of First Western Financial by 1,470.6% in the third quarter. New York State Common Retirement Fund now owns 1,068 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares during the period. BNP Paribas Financial Markets raised its position in First Western Financial by 37.1% during the third quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock valued at $38,000 after buying an additional 441 shares during the period. Focus Partners Wealth purchased a new stake in First Western Financial in the 3rd quarter worth about $49,000. JPMorgan Chase & Co. lifted its stake in First Western Financial by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock worth $169,000 after acquiring an additional 1,555 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in First Western Financial during the 4th quarter worth about $208,000. Hedge funds and other 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.