Zacks Investment Research upgraded shares of First Western Financial (NASDAQ:MYFW) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $28.00 price target on the stock.
According to Zacks, “First Western Financial Inc. operates as a bank holding company. It provides wealth management services which include deposit, loans, trust, wealth planning and investment management products and services through its subsidiaries. First Western Financial Inc. is based in Denver, United States. “
Separately, TheStreet upgraded First Western Financial from a d+ rating to a c- rating in a report on Monday, May 24th.
First Western Financial (NASDAQ:MYFW) last released its quarterly earnings results on Thursday, April 22nd. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $23.67 million during the quarter, compared to analysts’ expectations of $24.20 million. First Western Financial had a return on equity of 19.45% and a net margin of 26.46%. Analysts expect that First Western Financial will post 2.66 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new position in First Western Financial during the 1st quarter worth about $1,770,000. BlackRock Inc. lifted its stake in First Western Financial by 24.4% during the 4th quarter. BlackRock Inc. now owns 279,000 shares of the company’s stock worth $5,460,000 after acquiring an additional 54,702 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in First Western Financial by 26.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 257,000 shares of the company’s stock worth $5,029,000 after acquiring an additional 54,035 shares in the last quarter. EAM Investors LLC acquired a new position in First Western Financial during the 1st quarter worth about $1,334,000. Finally, Franklin Resources Inc. lifted its stake in First Western Financial by 179.3% during the 1st quarter. Franklin Resources Inc. now owns 68,506 shares of the company’s stock worth $1,713,000 after acquiring an additional 43,977 shares in the last quarter. Institutional investors and hedge funds own 47.66% of the company’s stock.
First Western Financial Company Profile
First Western Financial, Inc, a financial holding company, provides wealth management, private banking, personal trust, investment management, mortgage lending, and institutional asset management services. The company operates through two segments: Wealth Management and Mortgage. The Wealth Management segment provides deposit, loan, insurance, and trust and investment management advisory products and services.
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