Piper Sandler Increases First Western Financial Price Target to $22.00

First Western Financial (NASDAQ:MYFW – Free Report) received a price target increase by Piper Sandler, raising it from $20.00 to $22.00 as noted in a research report released on Monday morning. Piper Sandler currently maintains a neutral rating on the stock.

First Western Financial has also drawn attention from other analysts. For instance, Keefe, Bruyette & Woods reduced their price target from $25.00 to $23.00 while rating the stock as "outperform" in a report dated Thursday, July 25th. Additionally, the Hovde Group raised their price target from $21.00 to $23.50, also giving the stock an "outperform" rating in a note dated Wednesday, August 28th.

Current Stock Performance

On Monday, NASDAQ:MYFW opened trading at $19.02. Within the past year, First Western Financial reached a low of $12.84 and a high of $21.87. The company's financial ratios include a quick ratio of 1.12, a current ratio of 1.13, and a debt-to-equity ratio of 0.99. Presently, it boasts a market capitalization of $183.73 million, a P/E ratio of 30.68, and a beta of 0.61. The fifty-day simple moving average stands at $19.46, with a 200-day simple moving average at $17.93.

Quarterly Earnings Report

First Western Financial published its quarterly earnings results on Thursday, October 24th. The company reported earnings per share (EPS) of $0.22 for the quarter, which fell short of the consensus estimate of $0.30 by $0.08. The return on equity for the company was recorded at 2.45%, with a net margin of 3.33%. For the quarter, revenue totaled $45.06 million, significantly surpassing the consensus estimate of $24.10 million. This demonstrates a decrease from the same quarter the previous year when the EPS was $0.32. Analysts project that First Western Financial will report an EPS of 1 for the current year.

Insider Activity

In related news, Director David R. Duncan sold 5,500 shares of First Western Financial on Monday, September 16th. The shares were sold at an average price of $19.53, resulting in a total transaction amount of $107,415.00. Following this sale, Duncan holds 17,520 shares valued at approximately $342,165.60. This trade signifies no change in percentage ownership. The transaction was disclosed in a filing with the SEC, which is publicly accessible. Currently, about 17.90% of the stock is owned by company insiders.

Institutional Investor Activity

Recently, several institutional investors have adjusted their stakes in First Western Financial. For example, Wasatch Advisors LP increased their stake by 14.5% in the first quarter, now owning 363,990 shares valued at $5,307,000 after buying an additional 46,172 shares. BNP Paribas Financial Markets further raised their stake by 67.5% in the first quarter, now holding 3,968 shares valued at $58,000 after acquiring an additional 1,599 shares. Empowered Funds LLC also increased their stake by 7.6% during the same period. Vanguard Group Inc. raised its stake by 1.2%, possessing 369,313 shares now valued at $5,385,000 after purchasing 4,415 more shares. Finally, Strategic Value Bank Partners LLC raised its stake by 12.9%, with 249,226 shares valued at $4,237,000. Institutional investors now own a total of 60.26% of the company's stock.

About First Western Financial

First Western Financial, Inc. operates as a financial holding company offering a variety of services including wealth advisory, private banking, personal trust, investment management, mortgage lending, and institutional asset management. The company has two main divisions: Wealth Management and Mortgage. The Wealth Management segment provides various services such as deposits, loans, life insurance, and investment management advisory products.

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