First Western Financial (NASDAQ:MYFW) Posts Quarterly Earnings Results

Key Points

• Q1 beat: First Western Financial reported EPS of $0.63 vs. the $0.44 consensus (beat by $0.19) and revenue of $28.27 million vs. $27.30 million expected.
• Insider selling: Company insiders have sold 20,793 shares worth $522,567 over the past 90 days, including Director David R. Duncan (8,626 shares at $25.56) and Director Scott C. Mitchell (3,178 shares at $23.96).
• Market and sentiment: The stock trades near $26.04 with a market cap of $253.6M and a P/E of 19.29, while analysts hold an average "Hold" rating with a $25.17 price target.

First Western Financial (NASDAQ:MYFW - Get Free Report) posted its earnings results on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.19, Zacks reports. First Western Financial had a return on equity of 5.06% and a net margin of 7.08%.The firm had revenue of $28.27 million for the quarter, compared to the consensus estimate of $27.30 million.

First Western Financial Stock Performance

Shares of MYFW opened at $26.04 on Friday. First Western Financial has a 12-month low of $18.34 and a 12-month high of $28.00. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The company has a market cap of $253.63 million, a PE ratio of 19.29 and a beta of 0.66. The stock has a 50-day moving average price of $25.24 and a 200-day moving average price of $24.85.

Insider Activity at First Western Financial

In other First Western Financial news, Director David R. Duncan sold 8,626 shares of First Western Financial stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.56, for a total transaction of $220,480.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott C. Mitchell sold 3,178 shares of the business's stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $23.96, for a total transaction of $76,144.88. Following the completion of the transaction, the director directly owned 5,423 shares of the company's stock, valued at approximately $129,935.08. This represents a 36.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,793 shares of company stock worth $522,567. 15.50% of the stock is owned by company insiders.

Institutional Trading of First Western Financial

Several institutional investors and hedge funds have recently made changes to their positions in MYFW. Empowered Funds LLC lifted its holdings in shares of First Western Financial by 9.7% during the 4th quarter. Empowered Funds LLC now owns 33,335 shares of the company's stock worth $894,000 after acquiring an additional 2,959 shares during the last quarter. Wellington Management Group LLP increased its stake in First Western Financial by 119.2% in the fourth quarter. Wellington Management Group LLP now owns 242,680 shares of the company's stock valued at $6,506,000 after acquiring an additional 131,955 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in First Western Financial by 3.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 80,717 shares of the company's stock valued at $2,164,000 after acquiring an additional 2,959 shares during the last quarter. AQR Capital Management LLC raised its position in First Western Financial by 10.0% during 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 in the last quarter. Finally, North Reef Capital Management LP raised its position in First Western Financial by 11.0% during the fourth quarter. North Reef Capital Management LP now owns 685,954 shares of the company's stock valued at $18,390,000 after purchasing an additional 68,130 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MYFW. Zacks Research raised shares of First Western Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Piper Sandler cut their price target on shares of First Western Financial from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings downgraded shares of First Western Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.17.

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.