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First Western Financial, Inc. (NASDAQ:MYFW) Short Interest Down 17.3% in January

kopsource ·  Jan 30, 2023 10:02

First Western Financial, Inc. (NASDAQ:MYFW – Get Rating) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 92,400 shares, a decline of 17.3% from the December 31st total of 111,700 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 17,100 shares, the days-to-cover ratio is presently 5.4 days.

Insider Buying and Selling

In other First Western Financial news, Director David R. Duncan sold 2,034 shares of First Western Financial stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $29.53, for a total transaction of $60,064.02. Following the completion of the transaction, the director now directly owns 15,126 shares of the company's stock, valued at $446,670.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director David R. Duncan sold 2,034 shares of the business's stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $29.53, for a total value of $60,064.02. Following the completion of the transaction, the director now owns 15,126 shares of the company's stock, valued at $446,670.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott C. Wylie sold 1,611 shares of the business's stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $28.95, for a total value of $46,638.45. Following the transaction, the chief executive officer now directly owns 760,148 shares of the company's stock, valued at approximately $22,006,284.60. The disclosure for this sale can be found here. 18.20% of the stock is owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MYFW. UBS Group AG grew its position in First Western Financial by 35.8% during the first quarter. UBS Group AG now owns 1,359 shares of the company's stock worth $42,000 after buying an additional 358 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in First Western Financial in the third quarter valued at approximately $49,000. BNP Paribas Arbitrage SA boosted its stake in shares of First Western Financial by 4,034.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,067 shares of the company's stock valued at $56,000 after purchasing an additional 2,017 shares during the period. BNP Paribas Arbitrage SNC increased its stake in shares of First Western Financial by 23.2% in the third quarter. BNP Paribas Arbitrage SNC now owns 2,547 shares of the company's stock worth $63,000 after buying an additional 480 shares during the period. Finally, American International Group Inc. purchased a new position in shares of First Western Financial in the second quarter valued at about $100,000. 51.34% of the stock is currently owned by hedge funds and other institutional investors.

First Western Financial Stock Performance

NASDAQ MYFW opened at $26.50 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 1.30. The firm has a market cap of $251.49 million, a P/E ratio of 11.88 and a beta of 0.76. First Western Financial has a 12-month low of $24.07 and a 12-month high of $33.50. The company's 50 day moving average is $28.15 and its 200-day moving average is $27.50.

Analyst Ratings Changes

MYFW has been the topic of several research reports. Hovde Group downgraded shares of First Western Financial from an "outperform" rating to a "market perform" rating and set a $30.00 price objective on the stock. in a report on Wednesday, January 4th. Piper Sandler downgraded shares of First Western Financial from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $32.00 to $30.00 in a research report on Thursday, December 15th.

About First Western Financial

(Get Rating)

First Western Financial, Inc operates as a financial holding company, which engages in the provision of wealth managements services. It operates through the following business segments: Wealth Management, Capital Management, and Mortgage. The Wealth Management segment consists of operations relating to its fully integrated wealth management business.

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