First Western Financial (NASDAQ:MYFW) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• First Western Financial has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• While most analysts have raised their price targets for the stock, the company reported disappointing earnings, with an EPS of $0.26, missing the consensus estimate of $0.39.
• Institutional investors continue to show interest, owning 60.26% of the company's stock, with notable increases in holdings from firms like Bank of America Corp and Wells Fargo & Company.

Wall Street Zen lowered shares of First Western Financial (NASDAQ:MYFW - Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

MYFW has been the subject of several other reports. Hovde Group lifted their price target on First Western Financial from $23.00 to $24.50 and gave the company an "outperform" rating in a report on Monday, April 28th. Piper Sandler upped their price target on First Western Financial from $21.50 to $22.50 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods increased their target price on First Western Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

First Western Financial Trading Up 1.1%

NASDAQ:MYFW traded up $0.23 on Friday, reaching $20.84. The stock had a trading volume of 25,903 shares, compared to its average volume of 41,428. The company has a market cap of $202.56 million, a price-to-earnings ratio of 17.51 and a beta of 0.82. First Western Financial has a 12-month low of $16.10 and a 12-month high of $24.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.10. The firm's fifty day moving average is $22.32 and its two-hundred day moving average is $20.90.

First Western Financial (NASDAQ:MYFW - Get Free Report) last released its quarterly 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 company had revenue of $22.42 million for the quarter, compared to analyst estimates of $25.28 million. First Western Financial had a return on equity of 4.55% and a net margin of 6.50%. Equities analysts expect that First Western Financial will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On First Western Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. increased its position in shares of First Western Financial by 0.9% during the fourth quarter. Alliancebernstein L.P. now owns 354,571 shares of the company's stock valued at $6,932,000 after acquiring an additional 3,007 shares during the last quarter. Jacobs Asset Management LLC boosted its stake in First Western Financial by 4.2% during the first quarter. Jacobs Asset Management LLC now owns 325,177 shares of the company's stock valued at $6,390,000 after buying an additional 13,053 shares during the period. North Reef Capital Management LP raised its position in First Western Financial by 3.0% during the fourth quarter. North Reef Capital Management LP now owns 312,423 shares of the company's stock valued at $6,108,000 after purchasing an additional 9,002 shares in the last quarter. Mendon Capital Advisors Corp increased its holdings in shares of First Western Financial by 152.1% in the fourth quarter. Mendon Capital Advisors Corp now owns 257,598 shares of the company's stock worth $5,036,000 after buying an additional 155,432 shares during the period. Finally, Rhino Investment Partners Inc grew its stake in shares of First Western Financial by 322.6% in the fourth quarter. Rhino Investment Partners Inc now owns 232,189 shares of the company's stock worth $4,539,000 after purchasing an additional 177,248 shares during the last quarter. Institutional investors own 60.26% of the company's stock.

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.