Jacobs Asset Management LLC Purchases 13,053 Shares of First Western Financial, Inc. $MYFW

Key Points

• Jacobs Asset Management LLC increased its stake in First Western Financial, Inc. by 4.2%, owning 325,177 shares valued at approximately $6.39 million.
• First Western Financial reported a miss in earnings with $0.26 EPS compared to an expected $0.39 EPS, leading to a revenue of $22.42 million against analyst estimates of $25.28 million.
• Wall Street analysts hold a consensus rating of "Moderate Buy" for First Western Financial with an average price target of $24.33 after several analysts upgraded their ratings recently.

Jacobs Asset Management LLC boosted its holdings in First Western Financial, Inc. (NASDAQ:MYFW - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 325,177 shares of the company's stock after buying an additional 13,053 shares during the period. First Western Financial makes up about 4.0% of Jacobs Asset Management LLC's investment portfolio, making the stock its 11th largest position. Jacobs Asset Management LLC owned 3.36% of First Western Financial worth $6,390,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of First Western Financial by 244.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,259 shares of the company's stock valued at $25,000 after purchasing an additional 894 shares during the period. Wells Fargo & Company MN boosted its holdings in First Western Financial by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,885 shares of the company's stock worth $115,000 after purchasing an additional 1,110 shares during the period. Hsbc Holdings PLC boosted its holdings in First Western Financial by 5.0% in the fourth quarter. Hsbc Holdings PLC now owns 14,619 shares of the company's stock worth $285,000 after purchasing an additional 696 shares during the period. Bank of America Corp DE boosted its holdings in shares of First Western Financial by 40.7% during the fourth quarter. Bank of America Corp DE now owns 15,159 shares of the company's stock valued at $296,000 after acquiring an additional 4,383 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in shares of First Western Financial by 10.7% during the fourth quarter. Citadel Advisors LLC now owns 17,296 shares of the company's stock valued at $338,000 after acquiring an additional 1,678 shares during the period. Hedge funds and other institutional investors own 60.26% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of First Western Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.33.

First Western Financial Stock Up 0.9%

Shares of MYFW traded up $0.21 during trading hours on Friday, reaching $23.36. The company's stock had a trading volume of 20,025 shares, compared to its average volume of 37,113. The firm has a market cap of $227.06 million, a price-to-earnings ratio of 19.63 and a beta of 0.82. First Western Financial, Inc. has a 1-year low of $17.10 and a 1-year high of $24.88. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $22.70 and a two-hundred day moving average of $21.03.

First Western Financial (NASDAQ:MYFW - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.13). The business had revenue of $22.42 million during the quarter, compared to analyst estimates of $25.28 million. First Western Financial had a net margin of 6.50% and a return on equity of 4.55%. As a group, research analysts predict that First Western Financial, Inc. will post 1.5 EPS for the current fiscal year.

About First Western Financial

First Western Financial, Inc, a financial holding company, provides wealth advisory, private baking, personal trust, investment management, mortgage lending, and institutional asset management services. The company operates through two segments: Wealth Management and Mortgage. The Wealth Management segment provides deposit, loan, life insurance, and trust and investment management advisory products and services.