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

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

First Western Financial Price Performance

Shares of First Western Financial stock traded down $1.41 during mid-day trading on Friday, reaching $19.12. 26,835 shares of the stock traded hands, compared to its average volume of 23,962. The stock has a market capitalization of $183.95 million, a PE ratio of 24.83 and a beta of 0.61. The business has a 50-day moving average of $19.46 and a 200 day moving average of $17.93. First Western Financial has a fifty-two week low of $12.84 and a fifty-two week high of $21.87. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.99.

Insider Transactions at First Western Financial

In related news, Director David R. Duncan sold 5,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.53, for a total value of $107,415.00. Following the completion of the transaction, the director now directly owns 17,520 shares of the company's stock, valued at approximately $342,165.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MYFW shares. Keefe, Bruyette & Woods dropped their price objective on First Western Financial from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Piper Sandler lifted their price target on shares of First Western Financial from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Finally, Hovde Group upped their price objective on shares of First Western Financial from $21.00 to $23.50 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th.

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.