First Western Financial (NASDAQ:MYFW) Lowered to “Hold” Rating by Zacks Research

First Western Financial (NASDAQ:MYFW) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Keefe, Bruyette & Woods boosted their target price on First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler increased their price target on First Western Financial from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, First Western Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

First Western Financial Stock Up 1.6%

MYFW stock opened at $31.90 on Thursday. The company has a fifty day moving average price of $28.84 and a 200 day moving average price of $26.70. First Western Financial has a 12 month low of $20.40 and a 12 month high of $32.32. The company has a market cap of $310.36 million, a price-to-earnings ratio of 20.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 1.04.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.44 by $0.19. First Western Financial had a return on equity of 5.74% and a net margin of 8.02%.The firm had revenue of $27.58 million during the quarter, compared to the consensus estimate of $27.30 million. Sell-side analysts expect that First Western Financial will post 2.44 earnings per share for the current year.

Insider Buying and Selling at First Western Financial

In other news, CEO Scott C. Wylie sold 1,083 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.52, for a total transaction of $30,887.16. Following the transaction, the chief executive officer directly owned 756,729 shares of the company’s stock, valued at $21,581,911.08. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MYFW. BNP Paribas Financial Markets increased its holdings in First Western Financial by 37.1% in the third quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock valued at $38,000 after buying an additional 441 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of First Western Financial by 10.8% during the 1st quarter. Bank of America Corp DE now owns 12,053 shares of the company’s stock worth $296,000 after acquiring an additional 1,178 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of First Western Financial by 10.0% during the 4th quarter. AQR Capital Management LLC now owns 13,217 shares of the company’s stock worth $354,000 after acquiring an additional 1,198 shares in the last quarter. Barclays PLC grew its holdings in shares of First Western Financial by 6.1% in the 4th quarter. Barclays PLC now owns 21,788 shares of the company’s stock worth $584,000 after acquiring an additional 1,244 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in First Western Financial by 26.8% in the 3rd 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 in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

First Western Financial Company Profile

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.