Wall Street Zen Downgrades First Western Financial (NASDAQ:MYFW) to Sell

Key Points

• First Western Financial was downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook on the stock's performance.
• The company reported earnings of $0.26 per share, missing analyst expectations of $0.39, alongside lower than expected revenue of $22.42 million.
• Insider trading activity includes CEO Scott C. Wylie selling 5,000 shares at an average price of $23.59, reducing his ownership stake by 0.66%.

Wall Street Zen cut shares of First Western Financial (NASDAQ:MYFW - Free Report) from a hold rating to a sell rating in a research note issued to investors on Sunday.

First Western Financial Trading Up 0.5%

NASDAQ MYFW traded up $0.13 on Friday, reaching $23.00. The stock had a trading volume of 18,901 shares, compared to its average volume of 39,364. The firm has a market capitalization of $223.51 million, a price-to-earnings ratio of 19.34 and a beta of 0.87. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Western Financial has a 12-month low of $17.10 and a 12-month high of $24.88. The stock has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $21.38.

First Western Financial (NASDAQ:MYFW - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.13). The firm had revenue of $22.42 million during the quarter, compared to analysts' expectations of $25.28 million. First Western Financial had a net margin of 6.50% and a return on equity of 4.55%. As a group, sell-side analysts forecast that First Western Financial will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at First Western Financial

In other news, CEO Scott C. Wylie sold 5,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $23.59, for a total transaction of $117,950.00. Following the sale, the chief executive officer owned 757,164 shares of the company's stock, valued at approximately $17,861,498.76. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.90% of the company's stock.

Institutional Trading of First Western Financial

A number of large investors have recently modified their holdings of the stock. Boothbay Fund Management LLC increased its position in shares of First Western Financial by 5.5% during the second quarter. Boothbay Fund Management LLC now owns 98,717 shares of the company's stock worth $2,227,000 after acquiring an additional 5,165 shares during the period. Bridgeway Capital Management LLC increased its holdings in First Western Financial by 2.9% in the second quarter. Bridgeway Capital Management LLC now owns 82,533 shares of the company's stock valued at $1,862,000 after buying an additional 2,288 shares during the last quarter. Mendon Capital Advisors Corp increased its holdings in First Western Financial by 9.1% in the second quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company's stock valued at $6,329,000 after buying an additional 23,317 shares during the last quarter. Jane Street Group LLC purchased a new position in First Western Financial in the second quarter valued at $245,000. Finally, Marshall Wace LLP purchased a new position in First Western Financial in the second quarter valued at $2,194,000. Hedge funds and other 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.