First Western Financial (NASDAQ:MYFW) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Western Financial (NASDAQ:MYFW) released its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01, FiscalAI reports. The business had revenue of $28.14 million for the quarter, compared to analyst estimates of $28.57 million. First Western Financial had a net margin of 8.02% and a return on equity of 5.74%.

First Western Financial Trading Down 0.6%

Shares of MYFW traded down $0.19 on Thursday, hitting $32.21. 45,182 shares of the stock traded hands, compared to its average volume of 40,134. First Western Financial has a 1 year low of $20.40 and a 1 year high of $34.36. The stock’s 50 day moving average is $30.69 and its two-hundred day moving average is $27.61. The firm has a market capitalization of $313.40 million, a P/E ratio of 20.78 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.35.

Insider Buying and Selling

In other First Western Financial news, CEO Scott C. Wylie sold 1,083 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $28.52, for a total value of $30,887.16. Following the completion of the transaction, the chief executive officer directly owned 756,729 shares in the company, valued at approximately $21,581,911.08. The trade was a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On First Western Financial

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in First Western Financial by 37.1% in the third quarter. BNP Paribas Financial Markets now owns 1,631 shares of the company’s stock valued at $38,000 after purchasing an additional 441 shares during the last quarter. Focus Partners Wealth purchased a new stake in First Western Financial in the 3rd quarter valued at about $49,000. JPMorgan Chase & Co. grew its holdings in First Western Financial by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,350 shares of the company’s stock valued at $169,000 after buying an additional 1,555 shares during the period. Wells Fargo & Company MN increased its stake 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 during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of First Western Financial during the 2nd quarter valued at about $245,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of First Western Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Zacks Research lowered shares of First Western Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods raised their price objective on shares of First Western Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, Piper Sandler lifted their price objective on First Western Financial from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Western Financial presently has an average rating of “Moderate Buy” and an average target price of $30.00.

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.