First Western Financial, Inc. (NASDAQ:MYFW) Short Interest Update

Key Points

• First Western Financial's short interest increased by 33.0% in July, totaling 95,900 shares, which represents approximately 1.3% of the stock sold short.
• The company reported earnings of $0.26 per share, falling short of the consensus estimate of $0.39, with revenue of $22.42 million against an expected $25.28 million.
• Analysts have a Moderate Buy rating for First Western Financial, with an average price target of $24.33.

First Western Financial, Inc. (NASDAQ:MYFW - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 95,900 shares, agrowthof33.0% from the July 15th total of 72,100 shares. Approximately1.3% of the shares of the stock are sold short. Based on an average trading volume of 58,700 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 58,700 shares, the days-to-cover ratio is presently 1.6 days. Approximately1.3% of the shares of the stock are sold short.

First Western Financial Trading Up 2.0%

Shares of NASDAQ:MYFW traded up $0.42 on Wednesday, hitting $21.82. 3,132 shares of the company's stock were exchanged, compared to its average volume of 40,876. First Western Financial has a 12 month low of $16.44 and a 12 month high of $24.88. The stock has a market capitalization of $212.05 million, a price-to-earnings ratio of 18.34 and a beta of 0.82. The business's 50 day simple moving average is $22.40 and its two-hundred day simple moving average is $20.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.10.

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

Institutional Trading of First Western Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Sippican Capital Advisors raised its holdings in shares of First Western Financial by 61.9% in the first quarter. Sippican Capital Advisors now owns 40,070 shares of the company's stock valued at $787,000 after acquiring an additional 15,325 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Western Financial by 12.3% in the first quarter. Bank of New York Mellon Corp now owns 18,664 shares of the company's stock valued at $367,000 after acquiring an additional 2,047 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of First Western Financial by 40.7% in 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 in the last quarter. Citadel Advisors LLC raised its holdings in shares of First Western Financial by 10.7% in 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of First Western Financial in the fourth quarter valued at about $489,000. 60.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MYFW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on First Western Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Hovde Group raised their price target on First Western Financial from $23.00 to $24.50 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded First Western Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Piper Sandler raised their price target on First Western Financial from $21.50 to $22.50 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, First Western Financial currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

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.

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