First Western Financial (NASDAQ:MYFW) Upgraded at Zacks Research

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

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

First Western Financial Trading Up 1.6%

MYFW stock opened at $24.98 on Monday. The firm has a fifty day moving average price of $25.08 and a 200 day moving average price of $24.49. First Western Financial has a fifty-two week low of $17.52 and a fifty-two week high of $28.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market cap of $243.31 million, a PE ratio of 18.50 and a beta of 0.66.

First Western Financial (NASDAQ:MYFW) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). First Western Financial had a net margin of 7.08% and a return on equity of 5.06%. The business had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $27.50 million. Sell-side analysts anticipate that First Western Financial will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other First Western Financial news, Director Scott C. Mitchell sold 3,178 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $23.96, for a total value of $76,144.88. Following the completion of the sale, the director owned 5,423 shares of the company’s stock, valued at $129,935.08. This trade represents a 36.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David R. Duncan sold 8,626 shares of the business’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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 20,793 shares of company stock valued at $522,567. 15.50% of the stock is owned by insiders.

Hedge Funds Weigh In On First Western Financial

A number of large investors have recently bought and sold shares of MYFW. New York State Common Retirement Fund grew its position in First Western Financial by 1,470.6% in the 3rd quarter. New York State Common Retirement Fund now owns 1,068 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of First Western Financial by 37.1% during the third quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock worth $38,000 after purchasing an additional 441 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of First Western Financial during the third quarter worth $49,000. JPMorgan Chase & Co. boosted its stake 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 valued at $169,000 after purchasing an additional 1,555 shares during the period. Finally, R Squared Ltd bought a new position in shares of First Western Financial in the fourth 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.