542,706 Shares in First Western Financial, Inc. $MYFW Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 542,706 shares of First Western Financial in the second quarter, worth approximately $17.4 million and representing a 5.55% stake. Institutional investors collectively own 60.26% of MYFW.
• CEO Scott C. Wylie sold 10,000 shares at an average price of $30.55, reducing his direct holdings by 1.33%; company insiders own 13.10% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $32 price target. MYFW recently reported quarterly EPS of $0.57, slightly above estimates, while revenue of $28.14 million fell short of expectations.

BlackRock Inc. purchased a new stake in First Western Financial, Inc. (NASDAQ:MYFW - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 542,706 shares of the company's stock, valued at approximately $17,426,000. BlackRock Inc. owned approximately 5.55% of First Western Financial as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. North Reef Capital Management LP lifted its position in shares of First Western Financial by 4.5% during the 1st quarter. North Reef Capital Management LP now owns 716,609 shares of the company's stock worth $17,614,000 after buying an additional 30,655 shares during the last quarter. Algebris UK Ltd. increased its position in shares of First Western Financial by 8.0% during the fourth quarter. Algebris UK Ltd. now owns 340,807 shares of the company's stock worth $9,141,000 after purchasing an additional 25,358 shares in the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of First Western Financial by 9.1% in the 2nd quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company's stock valued at $6,329,000 after purchasing an additional 23,317 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Western Financial by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 261,734 shares of the company's stock valued at $6,434,000 after purchasing an additional 6,440 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of First Western Financial by 119.2% in the 4th quarter. Wellington Management Group LLP now owns 242,680 shares of the company's stock valued at $6,506,000 after purchasing an additional 131,955 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Western Financial

In related news, CEO Scott C. Wylie sold 10,000 shares of First Western Financial stock in a transaction on Monday, August 31st. The shares were sold at an average price of $30.55, for a total value of $305,500.00. Following the transaction, the chief executive officer directly owned 740,312 shares in the company, valued at $22,616,531.60. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MYFW has been the topic of several research analyst reports. Zacks Research lowered First Western Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Piper Sandler raised 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 report on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on shares of First Western Financial from $29.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised shares of First Western Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

First Western Financial Stock Performance

NASDAQ MYFW opened at $31.43 on Friday. The firm has a market cap of $307.07 million, a P/E ratio of 16.90 and a beta of 0.71. First Western Financial, Inc. has a 52-week low of $21.31 and a 52-week high of $34.36. The business's 50-day moving average price is $31.95 and its 200 day moving average price is $28.77. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.29.

First Western Financial (NASDAQ:MYFW - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $28.14 million during the quarter, compared to the consensus estimate of $28.57 million. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%. On average, equities research analysts expect that First Western Financial, Inc. will post 2.36 earnings per share for the current year.

About First Western Financial

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.

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