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

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 note published on Saturday.

A number of other equities research analysts also recently weighed in on MYFW. Hovde Group lifted their target price on First Western Financial from $23.00 to $24.50 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Piper Sandler boosted their target price on First Western Financial from $21.50 to $22.50 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods boosted their target price on First Western Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, First Western Financial has an average rating of "Moderate Buy" and an average price target of $24.33.

First Western Financial Stock Down 0.8%

First Western Financial stock traded down $0.18 during mid-day trading on Friday, hitting $23.00. 1,508 shares of the company's stock were exchanged, compared to its average volume of 40,577. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.80. The stock has a market cap of $223.56 million, a P/E ratio of 19.33 and a beta of 0.82. First Western Financial has a 1-year low of $17.10 and a 1-year high of $24.88. The stock has a 50 day moving average of $22.62 and a two-hundred day moving average of $21.01.

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

Institutional Investors Weigh In On First Western Financial

Large investors have recently modified their holdings of the business. Sippican Capital Advisors boosted its holdings in shares of First Western Financial by 61.9% in the 1st quarter. Sippican Capital Advisors now owns 40,070 shares of the company's stock valued at $787,000 after purchasing an additional 15,325 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of First Western Financial by 12.3% in the 1st quarter. Bank of New York Mellon Corp now owns 18,664 shares of the company's stock valued at $367,000 after purchasing an additional 2,047 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of First Western Financial by 40.7% in the 4th quarter. Bank of America Corp DE now owns 15,159 shares of the company's stock valued at $296,000 after purchasing an additional 4,383 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of First Western Financial by 10.7% in the 4th quarter. Citadel Advisors LLC now owns 17,296 shares of the company's stock valued at $338,000 after purchasing an additional 1,678 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Western Financial in the 4th quarter valued at $489,000. 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.