Algebris UK Ltd. Acquires New Position in First Western Financial, Inc. $MYFW

Key Points

• Algebris UK Ltd. acquired 259,090 shares of First Western Financial during the second quarter, valued at approximately $8.3 million and representing a 2.65% stake. Institutional investors and hedge funds collectively own 60.26% of the company.
• First Western Financial shares opened at $31.40, down 2.4%, with a market capitalization of about $306.8 million. The company recently reported quarterly EPS of $0.57, slightly above analyst expectations, while revenue of $28.14 million fell short of estimates.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $32.00 target price, as some firms raised their targets while Zacks Research downgraded the stock to “strong sell.”

Algebris UK Ltd. bought a new position in shares of First Western Financial, Inc. (NASDAQ:MYFW - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 259,090 shares of the company's stock, valued at approximately $8,293,000. Algebris UK Ltd. owned 2.65% of First Western Financial at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in First Western Financial by 37.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company's stock worth $38,000 after acquiring an additional 441 shares during the period. Bank of America Corp DE lifted its position in shares of First Western Financial by 10.8% during the first quarter. Bank of America Corp DE now owns 12,053 shares of the company's stock worth $296,000 after purchasing an additional 1,178 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of First Western Financial by 10.0% in the fourth quarter. AQR Capital Management LLC now owns 13,217 shares of the company's stock valued at $354,000 after purchasing an additional 1,198 shares during the period. Barclays PLC grew its holdings in First Western Financial by 6.1% during the 4th quarter. Barclays PLC now owns 21,788 shares of the company's stock valued at $584,000 after purchasing an additional 1,244 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in First Western Financial by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company's stock valued at $169,000 after purchasing an additional 1,555 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

First Western Financial Stock Down 2.4%

Shares of MYFW opened at $31.40 on Thursday. First Western Financial, Inc. has a one year low of $21.31 and a one year high of $34.36. The business's 50 day simple moving average is $31.85 and its 200-day simple moving average is $28.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market capitalization of $306.81 million, a P/E ratio of 16.88 and a beta of 0.72.

First Western Financial (NASDAQ:MYFW - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%.The business had revenue of $28.14 million during the quarter, compared to analysts' expectations of $28.57 million. As a group, sell-side analysts predict that First Western Financial, Inc. will post 2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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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