Geode Capital Management LLC Purchases 2,661 Shares of First Western Financial, Inc. (NASDAQ:MYFW)

Geode Capital Management LLC boosted its holdings in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,570 shares of the company’s stock after acquiring an additional 2,661 shares during the period. Geode Capital Management LLC owned about 1.81% of First Western Financial worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of First Western Financial by 5.2% during the third quarter. Empowered Funds LLC now owns 21,859 shares of the company’s stock valued at $437,000 after purchasing an additional 1,072 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in First Western Financial by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,554 shares of the company’s stock valued at $451,000 after acquiring an additional 1,592 shares in the last quarter. FMR LLC increased its holdings in shares of First Western Financial by 347.2% in the 3rd quarter. FMR LLC now owns 3,117 shares of the company’s stock valued at $62,000 after acquiring an additional 2,420 shares during the period. State Street Corp lifted its stake in shares of First Western Financial by 5.3% during the 3rd quarter. State Street Corp now owns 112,268 shares of the company’s stock worth $2,245,000 after purchasing an additional 5,611 shares during the last quarter. Finally, First Western Trust Bank boosted its position in First Western Financial by 6.2% during the third quarter. First Western Trust Bank now owns 120,157 shares of the company’s stock valued at $2,403,000 after purchasing an additional 6,963 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Buying and Selling

In other First Western Financial news, Director David R. Duncan sold 8,600 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $19.03, for a total value of $163,658.00. Following the sale, the director now directly owns 8,760 shares of the company’s stock, valued at approximately $166,702.80. This represents a 49.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.90% of the company’s stock.

First Western Financial Stock Performance

MYFW opened at $18.68 on Tuesday. The firm’s 50-day moving average price is $20.39 and its 200-day moving average price is $19.23. The company has a market cap of $180.52 million, a P/E ratio of 30.13 and a beta of 0.68. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. First Western Financial, Inc. has a 52-week low of $12.84 and a 52-week high of $22.32.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on MYFW. Keefe, Bruyette & Woods increased their price target on shares of First Western Financial from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price target 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.

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.