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
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
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.
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