Diamond Hill Capital Management Inc. Reduces Position in First Western Financial, Inc. (NASDAQ:MYFW)

Diamond Hill Capital Management Inc. lessened its holdings in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,588 shares of the company’s stock after selling 6,766 shares during the period. Diamond Hill Capital Management Inc.’s holdings in First Western Financial were worth $2,747,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in First Western Financial by 7.6% in the 1st quarter. Empowered Funds LLC now owns 22,304 shares of the company’s stock valued at $325,000 after purchasing an additional 1,575 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in First Western Financial by 67.5% in the 1st quarter. BNP Paribas Financial Markets now owns 3,968 shares of the company’s stock valued at $58,000 after purchasing an additional 1,599 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First Western Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 369,313 shares of the company’s stock valued at $5,385,000 after purchasing an additional 4,415 shares during the last quarter. Strategic Value Bank Partners LLC boosted its holdings in First Western Financial by 12.9% in the 2nd quarter. Strategic Value Bank Partners LLC now owns 249,226 shares of the company’s stock valued at $4,237,000 after purchasing an additional 28,563 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in First Western Financial by 10.0% in the 4th quarter. Wasatch Advisors LP now owns 317,818 shares of the company’s stock valued at $6,302,000 after purchasing an additional 28,962 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MYFW shares. Piper Sandler boosted their target price on shares of First Western Financial from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Hovde Group boosted their target price on shares of First Western Financial from $21.00 to $23.50 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of First Western Financial from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th.

First Western Financial Stock Performance

Shares of MYFW stock opened at $19.66 on Monday. The firm’s 50 day moving average price is $18.01 and its 200-day moving average price is $16.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.12 and a current ratio of 1.13. First Western Financial, Inc. has a one year low of $12.84 and a one year high of $21.15. The firm has a market cap of $189.15 million, a P/E ratio of 25.53 and a beta of 0.62.

First Western Financial (NASDAQ:MYFW) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.20). First Western Financial had a return on equity of 2.86% and a net margin of 3.93%. The company had revenue of $45.03 million during the quarter, compared to analyst estimates of $23.70 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that First Western Financial, Inc. will post 1 EPS for the current year.

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.