First Western Financial, Inc. (NASDAQ:MYFW) Short Interest Update

Posted by Defense World Staff on Mar 12th, 2023

First Western Financial, Inc. (NASDAQ:MYFW – Get Rating) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 100,500 shares, a drop of 14.2% from the February 13th total of 117,100 shares. Based on an average daily volume of 18,400 shares, the short-interest ratio is presently 5.5 days. Approximately 1.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

MYFW has been the subject of a number of research analyst reports. Hovde Group cut shares of First Western Financial from an “outperform” rating to a “market perform” rating and set a $30.00 target price for the company. in a research note on Wednesday, January 4th. Keefe, Bruyette & Woods dropped their price objective on shares of First Western Financial from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Finally, Piper Sandler cut shares of First Western Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $30.00 in a research report on Thursday, December 15th.

Insiders Place Their Bets

In other First Western Financial news, Director David R. Duncan sold 2,034 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $29.53, for a total transaction of $60,064.02. Following the completion of the transaction, the director now owns 15,126 shares in the company, valued at $446,670.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of First Western Financial

Institutional investors have recently bought and sold shares of the business. North Reef Capital Management LP grew its holdings in First Western Financial by 502.1% during the 3rd quarter. North Reef Capital Management LP now owns 287,296 shares of the company’s stock worth $7,082,000 after acquiring an additional 239,582 shares during the period. Cherry Creek Investment Advisors Inc. grew its holdings in First Western Financial by 1.8% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 55,940 shares of the company’s stock worth $1,379,000 after acquiring an additional 1,000 shares during the period. Royal Bank of Canada grew its holdings in First Western Financial by 9.1% during the 3rd quarter. Royal Bank of Canada now owns 5,396 shares of the company’s stock worth $133,000 after acquiring an additional 452 shares during the period. Advisor Group Holdings Inc. acquired a new position in shares of First Western Financial in the 1st quarter valued at $127,000. Finally, Barclays PLC grew its holdings in shares of First Western Financial by 35.8% in the 4th quarter. Barclays PLC now owns 3,676 shares of the company’s stock valued at $104,000 after buying an additional 969 shares during the period. Institutional investors and hedge funds own 51.34% of the company’s stock.

First Western Financial Stock Performance

MYFW stock opened at $21.57 on Friday. The company has a 50 day moving average price of $26.37 and a 200 day moving average price of $27.04. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.17 and a quick ratio of 1.16. First Western Financial has a fifty-two week low of $20.56 and a fifty-two week high of $33.40. The stock has a market capitalization of $204.70 million, a PE ratio of 9.67 and a beta of 0.72.

First Western Financial (NASDAQ:MYFW – Get Rating) last released its earnings results on Thursday, January 26th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). First Western Financial had a return on equity of 9.89% and a net margin of 16.83%. The business had revenue of $28.40 million for the quarter, compared to analyst estimates of $29.10 million. Analysts forecast that First Western Financial will post 2.41 EPS for the current year.

About First Western Financial

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First Western Financial, Inc operates as a financial holding company, which engages in the provision of wealth managements services. It operates through the following business segments: Wealth Management, Capital Management, and Mortgage. The Wealth Management segment consists of operations relating to its fully integrated wealth management business.