Stifel Financial Corp Reduces Stake in First Western Financial, Inc. (NASDAQ:MYFW)

Stifel Financial Corp lowered its stake in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 49.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,853 shares of the company’s stock after selling 19,530 shares during the period. Stifel Financial Corp’s holdings in First Western Financial were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MYFW. FMR LLC increased 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 worth $62,000 after buying an additional 2,420 shares during the last quarter. ELCO Management Co. LLC bought a new position in shares of First Western Financial during the 2nd quarter worth $194,000. Hsbc Holdings PLC purchased a new stake in First Western Financial in the 2nd quarter worth about $210,000. Sippican Capital Advisors bought a new stake in First Western Financial in the 3rd quarter valued at about $272,000. Finally, Empowered Funds LLC raised its stake in First Western Financial by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 21,859 shares of the company’s stock valued at $437,000 after acquiring an additional 1,072 shares during the period. Institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MYFW. Keefe, Bruyette & Woods increased their target price on shares of First Western Financial from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on shares of First Western Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th.

Insider Buying and Selling

In other news, Director David R. Duncan sold 8,600 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $19.03, for a total transaction of $163,658.00. Following the completion of the transaction, the director now directly owns 8,760 shares in the company, valued at $166,702.80. The trade was a 49.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.90% of the stock is currently owned by insiders.

First Western Financial Stock Performance

Shares of MYFW opened at $19.03 on Friday. First Western Financial, Inc. has a 52-week low of $12.84 and a 52-week high of $22.32. The stock’s 50-day simple moving average is $20.56 and its 200 day simple moving average is $19.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a market capitalization of $183.91 million, a price-to-earnings ratio of 30.69 and a beta of 0.65.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). First Western Financial had a net margin of 3.33% and a return on equity of 2.44%. The company had revenue of $45.06 million for the quarter, compared to the consensus estimate of $24.10 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. Research analysts forecast that First Western Financial, Inc. will post 0.93 EPS for the current fiscal year.

First Western Financial 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.