First Western Financial Inc (NASDAQ:MYFW) Sees Large Decrease in Short Interest

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First Western Financial Inc (NASDAQ:MYFW) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 8,000 shares, a drop of 23.8% from the December 15th total of 10,500 shares. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the company’s shares are short sold.

Several analysts have weighed in on MYFW shares. ValuEngine raised First Western Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Stephens reaffirmed a “hold” rating and set a $17.00 price objective on shares of First Western Financial in a research report on Friday, November 1st. Finally, Zacks Investment Research raised First Western Financial from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Wednesday, January 8th.

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in First Western Financial by 9,057.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,403 shares of the company’s stock valued at $72,000 after acquiring an additional 5,344 shares in the last quarter. Millennium Management LLC boosted its position in First Western Financial by 15.6% during the 3rd quarter. Millennium Management LLC now owns 25,287 shares of the company’s stock valued at $432,000 after acquiring an additional 3,403 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Western Financial by 26.8% during the second quarter. Vanguard Group Inc. now owns 88,009 shares of the company’s stock valued at $1,167,000 after purchasing an additional 18,600 shares during the last quarter. Finally, RMB Capital Management LLC lifted its holdings in shares of First Western Financial by 1.6% during the second quarter. RMB Capital Management LLC now owns 733,674 shares of the company’s stock valued at $9,729,000 after purchasing an additional 11,241 shares during the last quarter. 40.21% of the stock is currently owned by institutional investors and hedge funds.

First Western Financial stock traded up $0.10 during trading hours on Tuesday, hitting $16.16. 3,900 shares of the stock traded hands, compared to its average volume of 5,722. The firm’s 50-day moving average price is $16.69 and its two-hundred day moving average price is $15.42. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The company has a market cap of $128.95 million, a PE ratio of 15.23 and a beta of 1.51. First Western Financial has a one year low of $12.40 and a one year high of $17.61.

First Western Financial (NASDAQ:MYFW) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.37 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The business had revenue of $16.73 million for the quarter. First Western Financial had a return on equity of 6.89% and a net margin of 9.58%. On average, sell-side analysts expect that First Western Financial will post 1.2 earnings per share for the current fiscal year.

About First Western Financial

First Western Financial, Inc, a financial holding company, through its subsidiaries, provides an integrated suite of wealth management services comprising private banking, personal trust, investment management, mortgage loans, and institutional asset management services. It operates through three segments: Wealth Management, Capital Management, and Mortgage.

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