First Western Financial (NASDAQ:MYFW) Upgraded by Wall Street Zen to Hold Rating

Key Points

• First Western Financial's stock rating was upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more favorable outlook for investors.
• Analysts from Piper Sandler and Keefe, Bruyette & Woods have raised their price targets for the company, indicating positive sentiment in the sector.
• Despite the upgrades, First Western Financial reported disappointing quarterly earnings, missing EPS estimates and revenues, highlighting potential challenges ahead.

Wall Street Zen upgraded shares of First Western Financial (NASDAQ:MYFW - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of First Western Financial from $21.50 to $22.50 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Hovde Group increased their price target on shares of First Western Financial from $23.00 to $24.50 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Western Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, First Western Financial presently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

First Western Financial Stock Down 0.4%

Shares of NASDAQ MYFW traded down $0.10 during trading on Friday, hitting $23.17. The stock had a trading volume of 12,121 shares, compared to its average volume of 40,731. First Western Financial has a 12 month low of $17.10 and a 12 month high of $24.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.10. The company has a market capitalization of $225.16 million, a PE ratio of 19.47 and a beta of 0.82. The firm has a fifty day moving average of $22.57 and a two-hundred day moving average of $20.99.

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

Hedge Funds Weigh In On First Western Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYFW. Tower Research Capital LLC TRC boosted its position in First Western Financial by 244.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,259 shares of the company's stock worth $25,000 after purchasing an additional 894 shares during the period. Wells Fargo & Company MN boosted its position in First Western Financial by 23.2% during the fourth 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 period. Quadrature Capital Ltd bought a new position in First Western Financial during the second quarter worth about $219,000. Jane Street Group LLC bought a new position in First Western Financial during the second quarter worth about $245,000. Finally, Hsbc Holdings PLC boosted its position in 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 purchasing an additional 696 shares during the period. 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.