Wellington Management Group LLP Grows Stock Position in First Western Financial, Inc. $MYFW

Wellington Management Group LLP increased its stake in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 43.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 747,096 shares of the company’s stock after purchasing an additional 226,767 shares during the period. Wellington Management Group LLP owned approximately 0.08% of First Western Financial worth $23,989,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in First Western Financial in the 2nd quarter valued at about $1,078,000. Public Employees Retirement System of Ohio acquired a new position in shares of First Western Financial during the second quarter worth about $83,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of First Western Financial during the second quarter worth approximately $6,261,000. Bank of America Corp DE purchased a new stake in shares of First Western Financial during the second quarter worth approximately $364,000. Finally, Legal & General Group Plc acquired a new stake in First Western Financial in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

First Western Financial Stock Down 0.2%

MYFW stock opened at $31.36 on Friday. The stock has a market cap of $306.39 million, a P/E ratio of 16.86 and a beta of 0.71. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. First Western Financial, Inc. has a twelve month low of $21.95 and a twelve month high of $34.36. The company’s 50 day moving average is $31.94 and its two-hundred day moving average is $28.79.

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

Insider Buying and Selling at First Western Financial

In other news, CEO Scott C. Wylie sold 10,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $30.55, for a total value of $305,500.00. Following the completion of the sale, the chief executive officer directly owned 740,312 shares of the company’s stock, valued at approximately $22,616,531.60. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MYFW shares. Zacks Research cut shares of First Western Financial from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods lifted their price objective on shares of First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Finally, Piper Sandler boosted their target price on shares of First Western Financial from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Two investment 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, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

First Western Financial 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.