First Western Financial (NASDAQ:MYFW) Issues Quarterly Earnings Results

First Western Financial (NASDAQ:MYFW) released its quarterly earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08), Zacks reports. The firm had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $24.10 million. First Western Financial had a return on equity of 2.86% and a net margin of 3.93%. During the same quarter last year, the business earned $0.32 earnings per share.

First Western Financial Price Performance

NASDAQ:MYFW traded down $1.41 on Friday, reaching $19.12. 26,835 shares of the company’s stock traded hands, compared to its average volume of 23,962. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $17.93. The firm has a market cap of $183.95 million, a PE ratio of 24.83 and a beta of 0.61. First Western Financial has a 12 month low of $12.84 and a 12 month high of $21.87.

Analyst Ratings Changes

A number of research firms have recently issued reports on MYFW. Hovde Group raised their price target on First Western Financial from $21.00 to $23.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Keefe, Bruyette & Woods dropped their price target on First Western Financial from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Piper Sandler raised their price target on First Western Financial from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th.

Insider Buying and Selling at First Western Financial

In other First Western Financial news, Director David R. Duncan sold 5,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $19.53, for a total transaction of $107,415.00. Following the sale, the director now directly owns 17,520 shares of the company’s stock, valued at $342,165.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.90% of the company’s stock.

About First Western Financial

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.