First Western Financial (NASDAQ:MYFW) Coverage Initiated by Analysts at Hovde Group

Research analysts at Hovde Group initiated coverage on shares of First Western Financial (NASDAQ:MYFW) in a research report issued on Friday. The firm set a “market perform” rating and a $33.00 price target on the stock. Hovde Group’s target price suggests a potential upside of 8.05% from the stock’s previous close.

A number of other equities analysts also recently issued reports on MYFW. 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 report on Thursday, June 25th. Piper Sandler upped their target price on shares of First Western Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded shares of First Western Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.33.

First Western Financial Stock Performance

Shares of NASDAQ MYFW traded down $0.06 during midday trading on Friday, hitting $30.54. 6,696 shares of the stock traded hands, compared to its average volume of 42,677. The firm has a 50-day moving average of $31.59 and a two-hundred day moving average of $29.15. The firm has a market capitalization of $298.23 million, a P/E ratio of 16.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.02. First Western Financial has a one year low of $21.95 and a one year high of $34.36.

First Western Financial (NASDAQ:MYFW) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. First Western Financial had a return on equity of 6.82% and a net margin of 9.50%.The company had revenue of $28.14 million during the quarter, compared to analyst estimates of $28.57 million. On average, equities analysts forecast that First Western Financial will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at First Western Financial

In other news, CEO Scott C. Wylie sold 10,000 shares of First Western Financial stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $30.55, for a total transaction of $305,500.00. Following the transaction, the chief executive officer directly owned 740,312 shares of the company’s stock, valued at $22,616,531.60. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Western Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of First Western Financial by 43.6% in the second quarter. Wellington Management Group LLP now owns 747,096 shares of the company’s stock worth $23,989,000 after purchasing an additional 226,767 shares during the period. Empowered Funds LLC bought a new stake in shares of First Western Financial during the 2nd quarter valued at $1,078,000. Public Employees Retirement System of Ohio bought a new stake in shares of First Western Financial during the 2nd quarter valued at $83,000. Punch & Associates Investment Management Inc. purchased a new position in shares of First Western Financial during the 2nd quarter valued at $6,261,000. Finally, Bank of America Corp DE purchased a new position in shares of First Western Financial during the 2nd quarter valued at $364,000. Institutional investors own 60.26% of the company’s stock.

About First Western Financial

First Western Financial, Inc is a Denver-based financial services company and the parent organization of First Western Trust Bank. The company focuses on providing integrated private banking, wealth management, and trust services to high-net-worth individuals, families, entrepreneurs, professionals, and privately held businesses.

Its private banking activities include deposit accounts, lending, and other banking solutions tailored to clients’ financial needs. Through its wealth management and trust businesses, First Western provides investment management, financial planning, fiduciary services, estate and tax planning support, and related services designed to help clients manage and preserve wealth across generations.

First Western was founded in 2004 and serves clients through offices in the western United States, with a presence concentrated in Colorado and additional markets in the region.