First Western Financial (NASDAQ:MYFW) Rating Increased to Hold at Wall Street Zen

Key Points

• First Western Financial has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting analysts' improved outlook on the stock.
• The company reported earnings of $0.26 per share for the last quarter, missing analysts' expectations by $0.13, and had total revenue of $22.42 million, also falling short of estimates.
• Significant recent share transactions include CEO Scott C. Wylie selling 5,000 shares, reducing his ownership slightly, while various hedge funds have increased their stakes in the company.

First Western Financial (NASDAQ:MYFW - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

First Western Financial Price Performance

Shares of First Western Financial stock traded up $0.63 during trading hours on Friday, reaching $23.37. 42,045 shares of the company's stock were exchanged, compared to its average volume of 26,540. First Western Financial has a 1 year low of $17.10 and a 1 year high of $24.88. The company has a market capitalization of $227.16 million, a P/E ratio of 19.64 and a beta of 0.87. The business has a fifty day moving average of $22.74 and a two-hundred day moving average of $21.30. 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 (NASDAQ:MYFW - Get Free Report) last announced its quarterly earnings data 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). First Western Financial had a net margin of 6.50% and a return on equity of 4.55%. The firm had revenue of $22.42 million during the quarter, compared to analysts' expectations of $25.28 million. As a group, research analysts predict that First Western Financial will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Scott C. Wylie sold 5,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $23.59, for a total value of $117,950.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 15.50% of the company's stock.

Institutional Investors Weigh In On First Western Financial

A number of hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC grew its holdings in shares of First Western Financial by 5.5% in the second quarter. Boothbay Fund Management LLC now owns 98,717 shares of the company's stock valued at $2,227,000 after purchasing an additional 5,165 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of 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 purchasing an additional 2,288 shares during the period. Mendon Capital Advisors Corp lifted its position 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 during the second quarter worth about $245,000. Finally, Marshall Wace LLP purchased a new position in First Western Financial during the second quarter worth about $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.