First Western Financial (NASDAQ:MYFW) Downgraded 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 cut shares of First Western Financial (NASDAQ:MYFW - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other analysts have also recently weighed in on MYFW. Hovde Group lifted their price objective on First Western Financial from $23.00 to $24.50 and gave the company an "outperform" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods boosted their price target on First Western Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Piper Sandler boosted 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.

First Western Financial Price Performance

Shares of MYFW remained flat at $21.64 during trading hours on Friday. The stock had a trading volume of 4,307 shares, compared to its average volume of 41,072. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.80. The firm has a market cap of $210.34 million, a price-to-earnings ratio of 18.18 and a beta of 0.82. First Western Financial has a 1 year low of $16.44 and a 1 year high of $24.88. The company's 50-day moving average is $22.34 and its 200 day moving average is $20.91.

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

Hedge Funds Weigh In On First Western Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYFW. JPMorgan Chase & Co. lifted its position in First Western Financial by 117.6% in the 4th quarter. JPMorgan Chase & Co. now owns 29,752 shares of the company's stock valued at $582,000 after acquiring an additional 16,078 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of First Western Financial by 0.9% during the 4th 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. Wells Fargo & Company MN boosted its holdings in shares of First Western Financial by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,885 shares of the company's stock valued at $115,000 after acquiring an additional 1,110 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in First Western Financial during the 4th quarter valued at $489,000. Finally, Barclays PLC raised its stake in First Western Financial by 24.0% during the 4th quarter. Barclays PLC now owns 21,808 shares of the company's stock valued at $427,000 after buying an additional 4,225 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

First Western Financial Company Profile

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.