Short Interest in First Western Financial, Inc. (NASDAQ:MYFW) Grows By 21.1%

Key Points

• Short interest jumped 21.1% in March to 170,103 shares (about 2.1% of the float), with a days-to-cover ratio of roughly 6.0 days, signaling increased bearish betting on MYFW.
• Insiders sold 20,793 shares worth $522,567 over the past three months, and corporate insiders now own 15.5% of the company.
• Fundamentals & analyst view: First Western missed quarterly EPS ($0.45 vs. $0.47) and revenue expectations, the stock trades near $26.38 with a $256.9M market cap, and analysts have an average "Hold" rating with a $25.17 consensus price target.

First Western Financial, Inc. (NASDAQ:MYFW - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 170,103 shares, a growth of 21.1% from the March 15th total of 140,451 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 28,173 shares, the days-to-cover ratio is currently 6.0 days.

Insider Activity at First Western Financial

In related news, Director David R. Duncan sold 8,626 shares of First Western Financial stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $25.56, for a total transaction of $220,480.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott C. Mitchell sold 3,178 shares of First Western Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $23.96, for a total value of $76,144.88. Following the sale, the director directly owned 5,423 shares in the company, valued at $129,935.08. This trade represents a 36.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,793 shares of company stock worth $522,567 in the last three months. 15.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Western Financial

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its holdings in First Western Financial by 1,470.6% during the 3rd quarter. New York State Common Retirement Fund now owns 1,068 shares of the company's stock valued at $25,000 after buying an additional 1,000 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in First Western Financial by 37.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company's stock valued at $38,000 after buying an additional 441 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of First Western Financial in the 3rd quarter worth approximately $49,000. JPMorgan Chase & Co. boosted its holdings in shares of First Western Financial by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company's stock worth $169,000 after purchasing an additional 1,555 shares during the period. Finally, R Squared Ltd purchased a new position in shares of First Western Financial in the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

First Western Financial Stock Performance

NASDAQ MYFW opened at $26.38 on Friday. The stock has a market capitalization of $256.94 million, a PE ratio of 19.54 and a beta of 0.66. The business has a 50 day simple moving average of $25.19 and a two-hundred day simple moving average of $24.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.05 and a quick ratio of 1.04. First Western Financial has a 1-year low of $18.03 and a 1-year high of $28.00.

First Western Financial (NASDAQ:MYFW - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $26.71 million for the quarter, compared to analysts' expectations of $27.50 million. First Western Financial had a net margin of 7.08% and a return on equity of 5.06%. On average, research analysts predict that First Western Financial will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MYFW shares. Weiss Ratings downgraded First Western Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 8th. Zacks Research raised First Western Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Piper Sandler decreased their target price on First Western Financial from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.17.

First Western Financial Company Profile

First Western Financial, Inc NASDAQ: MYFW is a Denver-based bank holding company that, through its principal subsidiary First Western Trust, delivers a suite of personalized financial services. The company's core activities center on wealth management and trust administration for high-net-worth individuals, families and institutions. In addition, First Western Financial offers a comprehensive range of deposit products—such as checking accounts, savings accounts, money market funds and certificates of deposit—designed to meet the liquidity and income needs of its clients.

Complementing its deposit offerings, First Western Financial provides fiduciary and investment management services, including estate planning, charitable giving strategies and multi-generational wealth transfer.

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