Wellington Management Group LLP Raises Holdings in First Western Financial, Inc. $MYFW

Key Points

• Wellington Management increased its First Western Financial stake by 43.6% in the second quarter, holding 747,096 shares valued at approximately $24.0 million, or 7.65% of the company. Institutional investors collectively own 60.26% of MYFW.
• First Western Financial reported quarterly EPS of $0.57, slightly exceeding analyst expectations of $0.56, while revenue of $28.14 million fell short of the $28.57 million consensus estimate.
• Analyst views remain mixed: the stock has an overall “Hold” consensus with a $32 average price target, while MYFW recently traded at $31.36. The CEO also sold 10,000 shares for approximately $305,500.

Wellington Management Group LLP boosted its holdings in shares of First Western Financial, Inc. (NASDAQ:MYFW - Free Report) by 43.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 747,096 shares of the company's stock after acquiring an additional 226,767 shares during the quarter. Wellington Management Group LLP owned about 7.65% of First Western Financial worth $23,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of First Western Financial in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets increased its position in shares of First Western Financial by 37.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company's stock worth $38,000 after purchasing an additional 441 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of First Western Financial during the 3rd quarter worth about $49,000. Public Employees Retirement System of Ohio purchased a new stake in First Western Financial in the 2nd quarter valued at about $83,000. Finally, JPMorgan Chase & Co. raised its holdings in First Western Financial by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company's stock valued at $169,000 after buying an additional 1,555 shares during the period. Hedge funds and other institutional investors own 60.26% of the company's stock.

First Western Financial Price Performance

MYFW stock opened at $31.36 on Friday. The business's fifty day moving average price is $31.94 and its 200 day moving average price is $28.79. First Western Financial, Inc. has a 12-month low of $21.95 and a 12-month 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 has a market capitalization of $306.39 million, a PE ratio of 16.86 and a beta of 0.71.

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

Insider Activity

In other 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 value of $305,500.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.10% of the company's stock.

Analysts Set New Price Targets

MYFW has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of First Western Financial from $29.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Weiss Ratings raised shares of First Western Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. Piper Sandler upped their price objective on shares of First Western Financial from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Zacks Research cut shares of First Western Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.00.

First Western Financial Company Profile

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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