First Western Financial (NASDAQ:MYFW) Price Target Raised to $23.00 at Piper Sandler

First Western Financial (NASDAQ:MYFW) had its price target lifted by Piper Sandler from $22.00 to $23.00 in a report released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

MYFW has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their price objective on shares of First Western Financial from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Hovde Group boosted their price target on shares of First Western Financial from $21.00 to $23.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th.

First Western Financial Price Performance

Shares of MYFW opened at $21.00 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.07. First Western Financial has a fifty-two week low of $12.84 and a fifty-two week high of $22.32. The firm has a 50-day simple moving average of $20.60 and a 200-day simple moving average of $18.85. The company has a market capitalization of $202.94 million, a price-to-earnings ratio of 33.87 and a beta of 0.65.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.08). First Western Financial had a net margin of 3.33% and a return on equity of 2.44%. The company had revenue of $45.06 million for the quarter, compared to analysts’ expectations of $24.10 million. During the same period in the prior year, the company earned $0.32 earnings per share. On average, equities research analysts anticipate that First Western Financial will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David R. Duncan sold 8,600 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $19.03, for a total transaction of $163,658.00. Following the transaction, the director now directly owns 8,760 shares of the company’s stock, valued at $166,702.80. This represents a 49.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strategic Value Bank Partners LLC boosted its stake in shares of First Western Financial by 12.9% during the 2nd quarter. Strategic Value Bank Partners LLC now owns 249,226 shares of the company’s stock worth $4,237,000 after acquiring an additional 28,563 shares in the last quarter. Mendon Capital Advisors Corp raised its holdings in First Western Financial by 128.3% during the second quarter. Mendon Capital Advisors Corp now owns 71,415 shares of the company’s stock worth $1,214,000 after purchasing an additional 40,138 shares during the last quarter. Vanguard Group Inc. boosted its position in First Western Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 369,313 shares of the company’s stock worth $5,385,000 after purchasing an additional 4,415 shares in the last quarter. Wasatch Advisors LP grew its holdings in First Western Financial by 22.5% in the third quarter. Wasatch Advisors LP now owns 446,009 shares of the company’s stock valued at $8,920,000 after purchasing an additional 82,019 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First Western Financial by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 159,563 shares of the company’s stock valued at $2,713,000 after buying an additional 11,120 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

First Western Financial Company Profile

First Western Financial, Inc, a financial holding company, provides wealth advisory, private baking, personal trust, investment management, mortgage lending, and institutional asset management services. The company operates through two segments: Wealth Management and Mortgage. The Wealth Management segment provides deposit, loan, life insurance, and trust and investment management advisory products and services.