First Western Financial, Inc. (MYFW) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst consensus is “Hold”: Three of five brokerages rate First Western Financial neutral, while two recommend buying. The average 12-month price target is $32.33, above the recently reported $29.78 share price.
• Institutional ownership is significant: Institutional investors and hedge funds own 60.26% of the company, with Wellington Management increasing its stake by 43.6% in the second quarter. CEO Scott Wylie sold 10,000 shares but retained approximately 740,312 shares.
• Quarterly earnings slightly exceeded expectations: First Western Financial reported EPS of $0.57 versus the $0.56 consensus estimate, although revenue of $28.14 million fell short of the $28.57 million forecast. Analysts expect full-year EPS of $2.39.

Shares of First Western Financial, Inc. (NASDAQ:MYFW - Get Free Report) have earned an average rating of "Hold" from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $32.33.

A number of analysts recently issued reports on MYFW shares. 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 upped their target price on First Western Financial from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Hovde Group began coverage on First Western Financial in a research note on Friday, September 18th. They set a "hold" rating and a $33.00 price target for the company. Zacks Research raised First Western Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods lifted their price target on First Western Financial from $29.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, June 25th.

Insider Buying and Selling

In related news, CEO Scott C. Wylie sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $30.55, for a total transaction of $305,500.00. Following the transaction, the chief executive officer owned 740,312 shares of the company's stock, valued at approximately $22,616,531.60. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in First Western Financial by 43.6% in the 2nd quarter. Wellington Management Group LLP now owns 747,096 shares of the company's stock valued at $23,989,000 after buying an additional 226,767 shares during the last quarter. North Reef Capital Management LP raised its holdings in First Western Financial by 4.5% in the 1st quarter. North Reef Capital Management LP now owns 716,609 shares of the company's stock worth $17,614,000 after acquiring an additional 30,655 shares during the period. BlackRock Inc. bought a new position in First Western Financial in the 2nd quarter worth $17,426,000. Algebris UK Ltd. acquired a new position in First Western Financial during the 2nd quarter worth $8,293,000. Finally, Dimensional Fund Advisors LP boosted its holdings in First Western Financial by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 261,734 shares of the company's stock valued at $6,434,000 after acquiring an additional 6,440 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

First Western Financial Stock Down 0.4%

NASDAQ MYFW traded down $0.13 during trading on Tuesday, reaching $29.78. 1,995 shares of the company's stock were exchanged, compared to its average volume of 41,859. The firm has a market capitalization of $290.97 million, a PE ratio of 16.01 and a beta of 0.76. First Western Financial has a fifty-two week low of $22.00 and a fifty-two week high of $34.36. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. The company's fifty day simple moving average is $30.86 and its 200-day simple moving average is $29.85.

First Western Financial (NASDAQ:MYFW - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $28.14 million during the quarter, compared to analyst estimates of $28.57 million. Sell-side analysts predict that First Western Financial will post 2.39 EPS for the current year.

First Western Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.