First Western Financial (NASDAQ:MYFW) Announces Earnings Results

by · The Cerbat Gem

First Western Financial (NASDAQ:MYFW – Get Free Report) released its earnings results on Thursday. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60, Zacks reports. The firm had revenue of $28.87 million during the quarter, compared to analyst estimates of $29.49 million. First Western Financial had a net margin of 9.50% and a return on equity of 6.82%.

First Western Financial Stock Up 2.0%

Shares of NASDAQ:MYFW opened at $30.14 on Friday. The company has a 50 day moving average price of $30.53 and a two-hundred day moving average price of $30.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.02. The company has a market capitalization of $294.47 million, a PE ratio of 15.88 and a beta of 0.76. First Western Financial has a 52 week low of $22.00 and a 52 week high of $34.36.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MYFW shares. Zacks Research upgraded First Western Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. Hovde Group initiated coverage on First Western Financial in a report on Friday, September 18th. They issued a “hold” rating and a $33.00 price objective for the company. Weiss Ratings upgraded First Western Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods increased their target price on First Western Financial from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Piper Sandler boosted their target price on First Western Financial from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.33.

Get Our Latest Stock Report on First Western Financial

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 on Monday, August 31st. The shares were 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. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.10% of the stock is currently owned by corporate insiders.

First Western Financial Company Profile

(Get Free Report)

First Western Financial, Inc is a financial holding company headquartered in Denver, Colorado. Through its principal subsidiary, First Western Trust Bank, the company provides private banking, wealth management, trust and investment management, and commercial banking services to individuals, families, entrepreneurs, professionals, and businesses.

Its banking activities include deposit accounts, residential and commercial real estate lending, commercial loans, construction financing, and other credit solutions.

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