First Western Financial (NASDAQ:MYFW) Issues Earnings Results, Beats Estimates By $0.01 EPS

First Western Financial (NASDAQ:MYFW) issued its earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01, FiscalAI reports. The company had revenue of $28.14 million for the quarter, compared to analysts’ expectations of $28.57 million. First Western Financial had a net margin of 9.50% and a return on equity of 6.91%.

First Western Financial Price Performance

Shares of First Western Financial stock opened at $31.97 on Friday. First Western Financial has a one year low of $20.40 and a one year high of $34.36. The stock’s fifty day moving average is $30.84 and its 200 day moving average is $27.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.05. The stock has a market cap of $311.04 million, a P/E ratio of 17.19 and a beta of 0.71.

Insider Transactions at First Western Financial

In related news, CEO Scott C. Wylie sold 1,083 shares of First Western Financial stock in a transaction on Wednesday, May 20th. The stock was 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 directly owned 756,729 shares in the company, valued at approximately $21,581,911.08. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On First Western Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake 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 buying an additional 441 shares during the period. Focus Partners Wealth acquired a new position in First Western Financial during the 3rd quarter worth approximately $49,000. JPMorgan Chase & Co. grew its holdings in First Western Financial by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock worth $169,000 after acquiring an additional 1,555 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of First Western Financial in the 2nd quarter valued at approximately $245,000. Finally, Wells Fargo & Company MN raised its holdings in shares of First Western Financial by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 10,605 shares of the company’s stock valued at $284,000 after purchasing an additional 3,299 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

MYFW has been the topic of a number of research reports. Zacks Research downgraded First Western Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods raised their target price on First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Weiss Ratings restated a “buy (b-)” rating on shares of First Western Financial in a research note on Tuesday. Finally, Piper Sandler upped their price target on shares of First Western Financial from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, First Western Financial has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.