Renaissance Technologies LLC Reduces Stock Position in First Western Financial, Inc. $MYFW

Renaissance Technologies LLC reduced its stake in First Western Financial, Inc. (NASDAQ:MYFW) by 55.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,100 shares of the company’s stock after selling 22,700 shares during the period. Renaissance Technologies LLC’s holdings in First Western Financial were worth $445,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in First Western Financial by 103.7% during the 1st quarter. Sei Investments Co. now owns 98,729 shares of the company’s stock worth $2,427,000 after purchasing an additional 50,268 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in First Western Financial during the 4th quarter valued at about $1,164,000. Round Rock Advisors LLC grew its holdings in First Western Financial by 125.6% during the 4th quarter. Round Rock Advisors LLC now owns 41,081 shares of the company’s stock valued at $1,101,000 after buying an additional 22,871 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $2,039,000 after buying an additional 75,838 shares during the period. Finally, Algebris UK Ltd. increased its position in shares of First Western Financial by 8.0% during the fourth quarter. Algebris UK Ltd. now owns 340,807 shares of the company’s stock valued at $9,141,000 after buying an additional 25,358 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Western Financial

In other First Western Financial news, CEO Scott C. Wylie sold 1,083 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 756,729 shares of the company’s stock, valued at $21,581,911.08. The trade was a 0.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MYFW shares. Keefe, Bruyette & Woods raised their price objective on shares of First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Zacks Research cut shares of First Western Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Finally, Piper Sandler raised their price target on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.00.

First Western Financial Price Performance

Shares of NASDAQ MYFW opened at $31.62 on Tuesday. The stock’s 50-day simple moving average is $31.75 and its two-hundred day simple moving average is $28.28. First Western Financial, Inc. has a twelve month low of $21.11 and a twelve month high of $34.36. The firm has a market capitalization of $308.93 million, a P/E ratio of 17.00 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.29.

First Western Financial (NASDAQ:MYFW) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%.The firm had revenue of $28.14 million during the quarter, compared to the consensus estimate of $28.57 million. As a group, equities analysts anticipate that First Western Financial, Inc. will post 2.36 EPS for the current fiscal year.

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.