First Western Financial (NASDAQ:MYFW) Announces Earnings Results, Meets Estimates

First Western Financial (NASDAQ:MYFW) announced its earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60, Zacks reports. First Western Financial had a net margin of 9.50% and a return on equity of 6.82%. The firm had revenue of $28.87 million during the quarter, compared to analyst estimates of $29.49 million.

First Western Financial Stock Performance

Shares of First Western Financial stock traded up $0.60 on Thursday, reaching $30.14. The stock had a trading volume of 74,966 shares, compared to its average volume of 43,020. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.02. First Western Financial has a fifty-two week low of $22.00 and a fifty-two week high of $34.36. The business’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $30.09. The stock has a market cap of $294.47 million, a P/E ratio of 16.20 and a beta of 0.76.

Insider Transactions at First Western Financial

In other news, CEO Scott C. Wylie sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $30.55, for a total transaction of $305,500.00. Following the completion of the transaction, the chief executive officer directly owned 740,312 shares in the company, valued at $22,616,531.60. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Hovde Group initiated coverage on shares of First Western Financial in a research note on Friday, September 18th. They set a “hold” rating and a $33.00 target price for the company. Weiss Ratings raised First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Piper Sandler increased their price target on First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. 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, Zacks Research raised shares of First Western Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, September 25th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.33.

About First Western Financial

First Western Financial, Inc is a financial holding company headquartered in Denver, Colorado. Through its principal subsidiary, First Western Trust Bank, the company provides private banking, wealth management, trust and investment management, and commercial banking services to individuals, families, entrepreneurs, professionals, and businesses.

Its banking activities include deposit accounts, residential and commercial real estate lending, commercial loans, construction financing, and other credit solutions.