First Western Financial (NASDAQ:MYFW) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of First Western Financial (NASDAQ:MYFW) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on MYFW. Weiss Ratings reiterated a “hold (c)” rating on shares of First Western Financial in a research note on Wednesday, October 8th. Wall Street Zen raised shares of First Western Financial from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

First Western Financial Trading Down 0.4%

NASDAQ:MYFW opened at $22.66 on Tuesday. The firm has a market capitalization of $220.26 million, a PE ratio of 17.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.10. First Western Financial has a 12 month low of $17.10 and a 12 month high of $24.88. The business’s 50-day moving average is $22.90 and its two-hundred day moving average is $22.09.

First Western Financial (NASDAQ:MYFW) last announced its earnings results on Friday, March 4th. The company reported $0.62 EPS for the quarter. The business had revenue of $23.41 million for the quarter. First Western Financial had a return on equity of 4.93% and a net margin of 6.91%. Research analysts predict that First Western Financial will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Scott C. Wylie sold 5,000 shares of First Western Financial stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $23.59, for a total value of $117,950.00. Following the completion of the sale, the chief executive officer owned 757,164 shares in the company, valued at approximately $17,861,498.76. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.50% of the company’s stock.

Institutional Trading of First Western Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in First Western Financial in the second quarter valued at about $219,000. Jane Street Group LLC bought a new stake in shares of First Western Financial in the 2nd quarter valued at approximately $245,000. Persistent Asset Partners Ltd increased its holdings in shares of First Western Financial by 19.6% in the 1st quarter. Persistent Asset Partners Ltd now owns 17,384 shares of the company’s stock valued at $342,000 after acquiring an additional 2,846 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of First Western Financial in the 2nd quarter valued at approximately $357,000. Finally, Bank of New York Mellon Corp increased its stake in First Western Financial by 12.3% during the first quarter. Bank of New York Mellon Corp now owns 18,664 shares of the company’s stock valued at $367,000 after purchasing an additional 2,047 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

About First Western Financial

First Western Financial, Inc, a financial holding company, provides wealth advisory, private baking, personal trust, investment management, mortgage lending, and institutional asset management services. The company operates through two segments: Wealth Management and Mortgage. The Wealth Management segment provides deposit, loan, life insurance, and trust and investment management advisory products and services.