First Western Financial (NASDAQ:MYFW) Given New $23.00 Price Target at Piper Sandler

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

MYFW has been the subject of several other research reports. 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. Keefe, Bruyette & Woods upped their price target on First Western Financial from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

First Western Financial Price Performance

MYFW opened at $21.00 on Tuesday. The stock’s 50-day moving average price is $20.60 and its 200 day moving average price is $18.85. First Western Financial has a 12-month low of $12.84 and a 12-month high of $22.32. The firm has a market cap of $202.94 million, a price-to-earnings ratio of 33.87 and a beta of 0.65. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46.

First Western Financial (NASDAQ:MYFW) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.08). The business had revenue of $45.06 million for the quarter, compared to analyst estimates of $24.10 million. First Western Financial had a return on equity of 2.44% and a net margin of 3.33%. During the same period in the prior year, the company posted $0.32 EPS. As a group, sell-side analysts expect that First Western Financial will post 0.96 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its position in First Western Financial by 347.2% in the third quarter. FMR LLC now owns 3,117 shares of the company’s stock valued at $62,000 after acquiring an additional 2,420 shares during the last quarter. ELCO Management Co. LLC acquired a new stake in shares of First Western Financial during the second quarter worth about $194,000. Hsbc Holdings PLC purchased a new stake in shares of First Western Financial in the 2nd quarter valued at about $210,000. Sippican Capital Advisors acquired a new stake in shares of First Western Financial in the 3rd quarter valued at about $272,000. Finally, Barclays PLC boosted its position in shares of First Western Financial by 112.5% in the 3rd quarter. Barclays PLC now owns 17,583 shares of the company’s stock valued at $353,000 after purchasing an additional 9,309 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

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.