Diamond Hill Capital Management Inc. Reduces Holdings in First Western Financial, Inc. (NASDAQ:MYFW)

Diamond Hill Capital Management Inc. trimmed its position in shares of First Western Financial, Inc. (NASDAQ:MYFW) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,588 shares of the company’s stock after selling 6,766 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.68% of First Western Financial worth $2,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Strategic Value Bank Partners LLC grew its holdings in shares of First Western Financial by 12.9% in the second quarter. Strategic Value Bank Partners LLC now owns 249,226 shares of the company’s stock worth $4,237,000 after purchasing an additional 28,563 shares during the last quarter. Vanguard Group Inc. raised its position in shares of First Western Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 369,313 shares of the company’s stock valued at $5,385,000 after purchasing an additional 4,415 shares during the last quarter. Empowered Funds LLC increased its holdings in First Western Financial by 7.6% in the 1st quarter. Empowered Funds LLC now owns 22,304 shares of the company’s stock worth $325,000 after buying an additional 1,575 shares during the period. BNP Paribas Financial Markets increased its holdings in First Western Financial by 67.5% in the 1st quarter. BNP Paribas Financial Markets now owns 3,968 shares of the company’s stock worth $58,000 after buying an additional 1,599 shares during the period. Finally, Wasatch Advisors LP increased its holdings in First Western Financial by 14.5% in the 1st quarter. Wasatch Advisors LP now owns 363,990 shares of the company’s stock worth $5,307,000 after buying an additional 46,172 shares during the period. 60.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MYFW has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of First Western Financial from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Hovde Group lifted their price target on shares of First Western Financial from $21.00 to $23.50 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of First Western Financial from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th.

First Western Financial Price Performance

First Western Financial stock opened at $19.66 on Monday. The company’s fifty day moving average price is $18.01 and its 200 day moving average price is $16.69. First Western Financial, Inc. has a 1 year low of $12.84 and a 1 year high of $21.15. The stock has a market capitalization of $189.15 million, a P/E ratio of 25.53 and a beta of 0.62. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.12 and a current ratio of 1.13.

First Western Financial (NASDAQ:MYFW) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.20). First Western Financial had a net margin of 3.93% and a return on equity of 2.86%. The firm had revenue of $45.03 million during the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, equities research analysts anticipate that First Western Financial, Inc. will post 1 earnings per share for the current fiscal year.

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.