Zacks Research Upgrades First Western Financial (NASDAQ:MYFW) to Hold

First Western Financial (NASDAQ:MYFW) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings raised First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Western Financial has a consensus rating of “Moderate Buy” and an average target price of $24.33.

First Western Financial Trading Down 0.8%

NASDAQ MYFW opened at $24.58 on Monday. The stock has a market cap of $239.41 million, a PE ratio of 18.21 and a beta of 0.76. First Western Financial has a 12 month low of $17.52 and a 12 month high of $28.00. The company’s 50-day moving average price is $25.13 and its 200-day moving average price is $24.49. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $26.71 million for the quarter, compared to the consensus estimate of $27.50 million. First Western Financial had a net margin of 7.08% and a return on equity of 5.06%. Equities research analysts forecast that First Western Financial will post 1.5 earnings per share for the current year.

Insider Transactions at First Western Financial

In other news, Director Scott C. Mitchell sold 3,178 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $23.96, for a total value of $76,144.88. Following the sale, the director directly owned 5,423 shares of the company’s stock, valued at $129,935.08. This represents a 36.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Duncan sold 8,626 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.56, for a total transaction of $220,480.56. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 20,793 shares of company stock valued at $522,567. 17.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Western Financial

Hedge funds have recently bought and sold shares of the stock. Algebris UK Ltd. purchased a new stake in First Western Financial during the third quarter worth $7,258,000. North Reef Capital Management LP lifted its position in shares of First Western Financial by 13.2% during the 3rd quarter. North Reef Capital Management LP now owns 617,824 shares of the company’s stock valued at $14,225,000 after buying an additional 72,102 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of First Western Financial by 58.3% during the 3rd quarter. Boothbay Fund Management LLC now owns 156,282 shares of the company’s stock valued at $3,598,000 after buying an additional 57,565 shares in the last quarter. Permanent Capital Management LP acquired a new stake in First Western Financial in the 4th quarter valued at $563,000. Finally, SummerHaven Investment Management LLC acquired a new stake in First Western Financial in the 3rd quarter valued at $819,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

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.