First Western Financial (NASDAQ:MYFW) Releases Earnings Results, Misses Estimates By $0.13 EPS

Key Points

• First Western Financial reported an earnings per share (EPS) of $0.26, missing analysts' estimates by $0.13, and had revenue of $22.42 million, below the expected $25.28 million.
• The company's stock decreased by 4.7%, closing at $23.41, following the disappointing earnings announcement.
• CEO Scott C. Wylie sold 5,000 shares of the company at an average price of $21.53, marking a 0.65% reduction in his holdings.

First Western Financial (NASDAQ:MYFW - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.13), Zacks reports. The business had revenue of $22.42 million for the quarter, compared to the consensus estimate of $25.28 million. First Western Financial had a return on equity of 4.58% and a net margin of 6.50%.

First Western Financial Stock Down 4.7%

Shares of MYFW traded down $1.15 during midday trading on Friday, hitting $23.41. The stock had a trading volume of 212,592 shares, compared to its average volume of 70,060. The company has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $20.62. First Western Financial has a twelve month low of $15.54 and a twelve month high of $24.88. The firm has a market cap of $227.43 million, a price-to-earnings ratio of 19.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.07.

Insider Activity

In other First Western Financial news, CEO Scott C. Wylie sold 5,000 shares of First Western Financial stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $21.53, for a total value of $107,650.00. Following the sale, the chief executive officer owned 767,164 shares of the company's stock, valued at $16,517,040.92. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.50% of the stock is owned by corporate insiders.

Institutional Trading of First Western Financial

A hedge fund recently raised its stake in First Western Financial stock. Empowered Funds LLC raised its position in First Western Financial, Inc. (NASDAQ:MYFW - Free Report) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,763 shares of the company's stock after purchasing an additional 1,824 shares during the quarter. Empowered Funds LLC owned 0.25% of First Western Financial worth $487,000 at the end of the most recent reporting period. Institutional investors own 60.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MYFW. Piper Sandler increased their price objective on First Western Financial from $21.50 to $22.50 and gave the company a "neutral" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods raised their price objective on First Western Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Hovde Group raised their price objective on First Western Financial from $23.00 to $24.50 and gave the stock an "outperform" rating in a research note on Monday, April 28th.

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.

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