First Western Financial (NASDAQ:MYFW) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

First Western Financial (NASDAQ:MYFW) announced its earnings results on Thursday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.44 by $0.19, Zacks reports. First Western Financial had a return on equity of 5.06% and a net margin of 7.08%.The firm had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $27.30 million.

First Western Financial Price Performance

First Western Financial stock traded down $1.02 during mid-day trading on Friday, hitting $25.03. The company’s stock had a trading volume of 5,073 shares, compared to its average volume of 24,861. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $243.74 million, a P/E ratio of 18.54 and a beta of 0.66. First Western Financial has a twelve month low of $19.54 and a twelve month high of $28.00. The stock’s fifty day moving average price is $25.24 and its two-hundred day moving average price is $24.85.

Insider Activity at First Western Financial

In related news, Director Scott C. Mitchell sold 3,178 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $23.96, for a total value of $76,144.88. Following the completion of the sale, the director directly owned 5,423 shares of the company’s stock, valued at approximately $129,935.08. This represents a 36.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Duncan sold 8,626 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.56, for a total value of $220,480.56. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,793 shares of company stock worth $522,567. 15.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Western Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of 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 acquiring an additional 441 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of First Western Financial during the 3rd quarter valued at $49,000. JPMorgan Chase & Co. grew its holdings in shares of First Western Financial by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock valued at $169,000 after acquiring an additional 1,555 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of First Western Financial by 45.2% during the 4th quarter. Wells Fargo & Company MN now owns 10,605 shares of the company’s stock valued at $284,000 after acquiring an additional 3,299 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of First Western Financial during the 2nd quarter valued at $245,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MYFW. Zacks Research upgraded shares of First Western Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings lowered shares of First Western Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 8th. Finally, Piper Sandler decreased their price target on shares of First Western Financial from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.17.

About First Western Financial

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.