Piper Sandler Issues Pessimistic Forecast for First Western Financial (NASDAQ:MYFW) Stock Price

First Western Financial (NASDAQ:MYFW) had its price objective cut by research analysts at Piper Sandler from $26.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 0.44% from the company’s previous close.

Several other brokerages have also issued reports on MYFW. Zacks Research upgraded shares of First Western Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings raised shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.17.

First Western Financial Price Performance

First Western Financial stock opened at $24.89 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.05 and a quick ratio of 1.04. The stock has a market capitalization of $242.43 million, a PE ratio of 18.44 and a beta of 0.66. The business has a 50 day simple moving average of $25.03 and a 200-day simple moving average of $24.51. First Western Financial has a 12 month low of $17.52 and a 12 month high of $28.00.

First Western Financial (NASDAQ:MYFW) last announced its 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). The business had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $27.50 million. First Western Financial had a net margin of 7.08% and a return on equity of 5.06%. On average, analysts anticipate that First Western Financial will post 1.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Scott C. Mitchell sold 3,178 shares of the stock in a transaction that occurred on 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 represents a 36.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David R. Duncan sold 8,626 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $25.56, for a total transaction of $220,480.56. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 20,793 shares of company stock valued at $522,567. 15.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Western Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYFW. Algebris UK Ltd. acquired a new position in shares of First Western Financial in the 3rd quarter valued at $7,258,000. Wellington Management Group LLP raised its holdings in First Western Financial by 119.2% in the 4th quarter. Wellington Management Group LLP now owns 242,680 shares of the company’s stock valued at $6,506,000 after buying an additional 131,955 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in First Western Financial in the 3rd quarter valued at about $3,012,000. Marshall Wace LLP acquired a new position in First Western Financial in the second quarter valued at about $2,194,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in First Western Financial by 36,113.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 76,048 shares of the company’s stock worth $2,039,000 after buying an additional 75,838 shares during the period. Institutional investors and hedge funds 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.