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

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

First Western Financial Price Performance

MYFW opened at $26.38 on Friday. The business has a fifty day moving average of $25.19 and a 200 day moving average of $24.72. First Western Financial has a 52-week low of $18.03 and a 52-week high of $28.00. 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 cap of $256.94 million, a P/E ratio of 19.54 and a beta of 0.66.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). First Western Financial had a net margin of 7.08% and a return on equity of 5.06%. The business had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $27.50 million. As a group, sell-side analysts anticipate that First Western Financial will post 1.5 EPS for the current year.

Insider Buying and Selling

In other 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 value of $220,480.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $23.96, for a total value of $76,144.88. Following the completion of the transaction, the director owned 5,423 shares of the company’s stock, valued at approximately $129,935.08. This trade represents a 36.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 20,793 shares of company stock valued at $522,567. Company insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On First Western Financial

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in First Western Financial by 9.7% during the 4th quarter. Empowered Funds LLC now owns 33,335 shares of the company’s stock valued at $894,000 after acquiring an additional 2,959 shares during the period. Wellington Management Group LLP boosted its holdings in First Western Financial by 119.2% during the 4th quarter. Wellington Management Group LLP now owns 242,680 shares of the company’s stock valued at $6,506,000 after acquiring an additional 131,955 shares during the period. Bridgeway Capital Management LLC raised its position in First Western Financial by 3.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 80,717 shares of the company’s stock valued at $2,164,000 after purchasing an additional 2,959 shares in the last quarter. AQR Capital Management LLC raised its position in First Western Financial by 10.0% during the 4th quarter. AQR Capital Management LLC now owns 13,217 shares of the company’s stock valued at $354,000 after purchasing an additional 1,198 shares in the last quarter. Finally, North Reef Capital Management LP raised its position in First Western Financial by 11.0% during the 4th quarter. North Reef Capital Management LP now owns 685,954 shares of the company’s stock valued at $18,390,000 after purchasing an additional 68,130 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler dropped their target price on First Western Financial from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Zacks Research upgraded First Western Financial from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings cut First Western Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.