First Western Financial (NASDAQ:MYFW) Downgraded to Strong Sell Rating by Zacks Research

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

A number of other equities analysts have also weighed in on the stock. Piper Sandler boosted their price objective on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Western Financial in a report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, First Western Financial presently has a consensus rating of “Hold” and an average target price of $32.00.

First Western Financial Stock Up 2.5%

Shares of NASDAQ:MYFW opened at $31.53 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $306.79 million, a P/E ratio of 16.95 and a beta of 0.71. First Western Financial has a 52-week low of $20.40 and a 52-week high of $34.36. The stock’s fifty day simple moving average is $30.95 and its 200-day simple moving average is $27.76.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $28.57 million. First Western Financial had a return on equity of 6.91% and a net margin of 9.50%. As a group, equities research analysts forecast that First Western Financial will post 2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in First Western Financial by 8.0% during the first quarter. Empowered Funds LLC now owns 24,763 shares of the company’s stock valued at $487,000 after acquiring an additional 1,824 shares during the period. Acadian Asset Management LLC raised its holdings in shares of First Western Financial by 122.7% in the 1st quarter. Acadian Asset Management LLC now owns 40,626 shares of the company’s stock worth $796,000 after purchasing an additional 22,382 shares during the period. Geode Capital Management LLC lifted its stake in shares of First Western Financial by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 181,708 shares of the company’s stock valued at $4,100,000 after purchasing an additional 6,431 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of First Western Financial during the 2nd quarter worth about $357,000. Finally, Marshall Wace LLP purchased a new stake in shares of First Western Financial during the 2nd quarter worth about $2,194,000. 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.