First Western Financial (NASDAQ:MYFW) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

First Western Financial (NASDAQ:MYFW) issued its earnings results on Thursday. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.20, Zacks reports. First Western Financial had a return on equity of 5.06% and a net margin of 7.08%.

First Western Financial Stock Performance

Shares of MYFW traded up $0.23 during trading hours on Thursday, reaching $26.04. 10,652 shares of the company’s stock traded hands, compared to its average volume of 25,119. The firm has a market capitalization of $253.50 million, a price-to-earnings ratio of 19.29 and a beta of 0.66. 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 twelve month low of $18.34 and a twelve month high of $28.00. The business’s fifty day simple moving average is $25.23 and its two-hundred day simple moving average is $24.84.

Analysts Set New Price Targets

MYFW has been the topic of several analyst reports. Zacks Research raised First Western Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Piper Sandler dropped their target price on 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. Finally, Weiss Ratings lowered First Western Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.17.

Insiders Place Their Bets

In other news, Director Scott C. Mitchell sold 3,178 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $23.96, for a total transaction of $76,144.88. Following the transaction, the director directly owned 5,423 shares of the company’s stock, valued at approximately $129,935.08. This trade represents a 36.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Duncan sold 8,626 shares of the firm’s stock in a transaction on 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. Insiders have sold 20,793 shares of company stock worth $522,567 over the last three months. Corporate insiders own 15.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MYFW. BNP Paribas Financial Markets boosted its stake in First Western Financial by 37.1% during the third 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 bought a new position in First Western Financial during the third quarter valued at about $49,000. JPMorgan Chase & Co. boosted its stake in First Western Financial by 26.8% during the third 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 in the last quarter. Jane Street Group LLC bought a new position in First Western Financial during the second quarter valued at about $245,000. Finally, Wells Fargo & Company MN boosted its stake in First Western Financial by 45.2% during the fourth quarter. Wells Fargo & Company MN now owns 10,605 shares of the company’s stock valued at $284,000 after buying an additional 3,299 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

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.