First Western Financial (NASDAQ:MYFW) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of First Western Financial (NASDAQ:MYFW) from a buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “First Western Financial Inc. operates as a bank holding company. It provides wealth management services which include deposit, loans, trust, wealth planning and investment management products and services through its subsidiaries. First Western Financial Inc. is based in Denver, United States. “

Separately, TheStreet upgraded shares of First Western Financial from a c+ rating to a b rating in a report on Friday, August 27th.

Shares of MYFW stock opened at $28.22 on Tuesday. First Western Financial has a twelve month low of $11.95 and a twelve month high of $31.72. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $225.65 million, a PE ratio of 8.53 and a beta of 0.92. The firm has a fifty day simple moving average of $26.54 and a 200-day simple moving average of $26.27.

First Western Financial (NASDAQ:MYFW) last released its quarterly earnings data on Thursday, July 22nd. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $23.72 million for the quarter, compared to analysts’ expectations of $25.20 million. First Western Financial had a net margin of 24.91% and a return on equity of 16.90%. Equities research analysts predict that First Western Financial will post 2.82 EPS for the current year.

In other First Western Financial news, CIO John Emery Sawyer purchased 3,575 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were acquired at an average price of $26.50 per share, for a total transaction of $94,737.50. Following the purchase, the executive now owns 19,001 shares in the company, valued at $503,526.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott C. Wylie sold 25,000 shares of the stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $26.25, for a total value of $656,250.00. Following the transaction, the chief executive officer now owns 784,664 shares in the company, valued at approximately $20,597,430. The disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC acquired a new stake in First Western Financial in the first quarter valued at about $52,000. BNP Paribas Arbitrage SA boosted its stake in First Western Financial by 98.9% in the first quarter. BNP Paribas Arbitrage SA now owns 3,288 shares of the company’s stock valued at $82,000 after buying an additional 1,635 shares in the last quarter. Royal Bank of Canada boosted its stake in First Western Financial by 351.6% in the second quarter. Royal Bank of Canada now owns 3,753 shares of the company’s stock valued at $97,000 after buying an additional 2,922 shares in the last quarter. UBS Group AG boosted its stake in First Western Financial by 140.5% in the first quarter. UBS Group AG now owns 3,815 shares of the company’s stock valued at $95,000 after buying an additional 2,229 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in First Western Financial by 9.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,187 shares of the company’s stock valued at $186,000 after buying an additional 614 shares in the last quarter. 47.11% of the stock is currently owned by institutional investors and hedge funds.

About First Western Financial

First Western Financial, Inc operates as a financial holding company, which engages in the provision of wealth managements services. It operates through the following business segments: Wealth Management, Capital Management, and Mortgage. The Wealth Management segment consists of operations relating to its fully integrated wealth management business.

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