First Western Financial (NASDAQ:MYFW) Issues Earnings Results, Misses Expectations By $0.08 EPS

First Western Financial (NASDAQ:MYFW) announced its quarterly earnings data on Thursday. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.08), Zacks reports. The company had revenue of $45.06 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.32 EPS.

First Western Financial Price Performance

Shares of First Western Financial stock traded down $1.41 during trading on Friday, hitting $19.12. The stock had a trading volume of 26,835 shares, compared to its average volume of 23,962. The business’s 50-day moving average is $19.46 and its 200 day moving average is $17.93. First Western Financial has a 12 month low of $12.84 and a 12 month high of $21.87. The firm has a market cap of $183.95 million, a price-to-earnings ratio of 24.83 and a beta of 0.61. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.99.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MYFW shares. Hovde Group upped their price objective on First Western Financial from $21.00 to $23.50 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Piper Sandler upped 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, Keefe, Bruyette & Woods cut their price objective on shares of First Western Financial from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, July 25th.

Insider Activity

In related news, Director David R. Duncan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $19.53, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.90% 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.