First Western Financial (NASDAQ:MYFW) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• First Western Financial beat earnings expectations for the quarter, reporting $0.57 EPS versus the $0.56 consensus estimate. Revenue came in at $28.14 million, slightly below the $28.57 million forecast.
• The stock traded lower despite the earnings beat, falling to $32.26 during Thursday trading after the report. Shares have ranged from a 52-week low of $20.40 to a high of $34.36.
• Analyst sentiment remains mixed but generally positive, with two Buy ratings and two Hold ratings, and a consensus price target of $30.00. Recent updates included rating upgrades and target increases from several firms.

First Western Financial (NASDAQ:MYFW - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01, FiscalAI reports. The firm had revenue of $28.14 million for the quarter, compared to the consensus estimate of $28.57 million. First Western Financial had a return on equity of 5.74% and a net margin of 8.02%.

First Western Financial Stock Performance

Shares of NASDAQ MYFW traded down $0.14 during trading hours on Thursday, hitting $32.26. 45,182 shares of the stock were exchanged, compared to its average volume of 40,134. First Western Financial has a one year low of $20.40 and a one year high of $34.36. The company's 50 day moving average is $30.69 and its 200 day moving average is $27.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market capitalization of $313.89 million, a P/E ratio of 20.81 and a beta of 0.71.

Wall Street Analyst Weigh In

MYFW has been the subject of several recent research reports. Weiss Ratings raised shares of First Western Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Zacks Research lowered shares of First Western Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 25th. Piper Sandler upped their price objective on shares of First Western Financial from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Western Financial from $29.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Insider Buying and Selling

In other First Western Financial news, CEO Scott C. Wylie sold 1,083 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.52, for a total transaction of $30,887.16. Following the completion of the transaction, the chief executive officer owned 756,729 shares of the company's stock, valued at $21,581,911.08. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MYFW. North Reef Capital Management LP boosted its position in shares of First Western Financial by 11.0% in the fourth quarter. North Reef Capital Management LP now owns 685,954 shares of the company's stock valued at $18,390,000 after acquiring an additional 68,130 shares during the period. Mendon Capital Advisors Corp raised its stake in First Western Financial by 9.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 280,524 shares of the company's stock valued at $6,329,000 after purchasing an additional 23,317 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in First Western Financial by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 255,294 shares of the company's stock valued at $6,844,000 after purchasing an additional 5,217 shares during the last quarter. Wellington Management Group LLP boosted its holdings in First Western Financial by 119.2% in the 4th quarter. Wellington Management Group LLP now owns 242,680 shares of the company's stock valued at $6,506,000 after purchasing an additional 131,955 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in First Western Financial by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 181,708 shares of the company's stock valued at $4,100,000 after purchasing an additional 6,431 shares during the period. 60.26% of the stock is owned by institutional investors.

First Western Financial Company Profile

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.

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