Hovde Group Forecasts Strong Price Appreciation for First Western Financial (NASDAQ:MYFW) Stock

First Western Financial (NASDAQ:MYFW - Free Report) had its price objective raised by Hovde Group from $23.00 to $24.50 in a research report sent to investors on Monday morning, Marketbeat reports. Hovde Group currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered their price objective on First Western Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Monday, January 27th. Piper Sandler lowered their price objective on First Western Financial from $23.00 to $22.50 and set a "neutral" rating for the company in a research note on Monday, January 27th.

First Western Financial Stock Up 3.2 %

Shares of NASDAQ:MYFW traded up $0.66 during mid-day trading on Monday, hitting $21.09. 69,140 shares of the company traded hands, compared to its average volume of 26,074. The firm has a market cap of $204.66 million, a P/E ratio of 24.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.07. First Western Financial has a 52-week low of $15.54 and a 52-week high of $22.32. The firm's 50 day simple moving average is $19.08 and its 200 day simple moving average is $19.82.

First Western Financial (NASDAQ:MYFW - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. First Western Financial had a return on equity of 3.43% and a net margin of 4.70%. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $24.10 million. On average, equities analysts anticipate that First Western Financial will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of First Western Financial by 244.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,259 shares of the company's stock worth $25,000 after acquiring an additional 894 shares in the last quarter. Wells Fargo & Company MN grew its position in First Western Financial by 23.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,885 shares of the company's stock worth $115,000 after purchasing an additional 1,110 shares during the last quarter. Rhumbline Advisers increased its stake in shares of First Western Financial by 9.5% in the fourth quarter. Rhumbline Advisers now owns 12,623 shares of the company's stock valued at $247,000 after purchasing an additional 1,090 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of First Western Financial by 284.0% during the third quarter. JPMorgan Chase & Co. now owns 13,674 shares of the company's stock valued at $273,000 after buying an additional 10,113 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of First Western Financial by 5.0% during the fourth quarter. Hsbc Holdings PLC now owns 14,619 shares of the company's stock worth $285,000 after buying an additional 696 shares during the period. Institutional investors and hedge funds 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.