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First Western Financial
(NASDAQ:MYFW)
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Rating:66Neutral
Price Target:
$33.00
▲(6.55% Upside)
Action:Reiterated
Date:10/31/26
MYFW scores as moderately attractive driven by improving financial results and a notably upbeat earnings call outlook (loan/deposit growth and net interest margin expansion). The score is held back by historically volatile profitability and cash flow (including negative operating/free cash flow in 2024–2025), plus only moderate technical strength and a valuation that is reasonable but not clearly compelling without a dividend yield.
Positive Factors
Profitability recovery
The rebound in net income and margin shows meaningful recovery from the sharp earnings pressure seen in 2023. If sustained, stronger profitability can improve internal capital generation, support balance-sheet growth, and provide greater resilience through normal regional-banking cycles.
Negative Factors
Volatile cash generation
Recent negative operating and free cash flow demonstrates that reported earnings have not translated consistently into cash generation. Although TTM cash flow recovered, the prior volatility reduces confidence in earnings durability and may constrain the company’s flexibility to fund growth or absorb adverse conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery
The rebound in net income and margin shows meaningful recovery from the sharp earnings pressure seen in 2023. If sustained, stronger profitability can improve internal capital generation, support balance-sheet growth, and provide greater resilience through normal regional-banking cycles.
Read all positive factors
First Western Financial (MYFW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$302.94M
Dividend YieldN/A
Average Volume (3M)45.16K
Price to Earnings (P/E)14.2
Beta (1Y)0.78
Revenue Growth6.45%
EPS Growth67.38%
CountryUS
Employees320
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.18
Shares Outstanding9,772,119
10 Day Avg. Volume62,821
30 Day Avg. Volume45,162
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)0.97
Price to Sales (P/S)1.39
P/FCF Ratio-44.87
Enterprise Value/Market Cap1.57
Enterprise Value/Revenue2.44
Enterprise Value/Gross Profit4.24
Enterprise Value/Ebitda9.29
Forecast
1Y Price Target
$31.00Price Target Upside0.10% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.44
Revenue Forecast (FY)$114.53M
First Western Financial Business Overview & Revenue Model
Company Description
First Western Financial, Inc., a financial holding company, provides wealth advisory, private banking, personal trust, investment management, mortgage lending, and institutional asset management services to individual and corporate clients. The co...
How the Company Makes Money
The company primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is earned by collecting interest and fees on loans and other interest-earning assets (such as certain securities) and paying interest...
First Western Financial Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Management reported substantial year-over-year profitability growth, continued loan and deposit expansion, improving net interest margin, better efficiency, stronger trust and investment management fees, and improved asset quality. The main challenges were weaker mortgage activity, lower non-interest income, higher funding costs, and a modest decline in allowance coverage, but management expressed confidence in continued fourth-quarter improvement and longer-term profitability gains.Positive Updates
Strong Profitability Growth
Pre-tax, pre-provision net income increased 15% from the prior quarter and 27% from the third quarter of 2025. Net income was about $6 million, or $0.60 per diluted share, with both figures 88% higher than in the third quarter of 2025.
Negative Updates
Decline in Non-Interest Income
Non-interest income decreased $600,000 from the prior quarter, primarily because higher mortgage rates negatively affected mortgage-loan origination volumes and net gains on mortgage loan sales. Bank fees also decreased.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Profitability Growth
Pre-tax, pre-provision net income increased 15% from the prior quarter and 27% from the third quarter of 2025. Net income was about $6 million, or $0.60 per diluted share, with both figures 88% higher than in the third quarter of 2025.
Read all positive updates
Company Guidance
Management expects further improvement in financial performance in the fourth quarter, with positive trends in loan growth, deposit growth, deposit mix improvement, net interest margin expansion, and increased activity in the wealth management business. The company’s forecast for this year of “10%-ish growth” seems on track, and “a 15% run rate here going into 2027 seems like ... a reasonable indication”; management said “This will continue” regarding net interest margin expansion. Payoffs are expected to return to “about $100 million a quarter” for “the next few quarters,” though they will “bounce around.” Management expects to be “operating a 1% ROA during 2027,” while timing could be “mid-year or the average for the year, the full year,” and sees “a line of sight to 1.5% ROA” in “the medium term” if “stable, healthy markets, upward sloping yield curve, relatively stable rates, healthy economy” continue; a “23% effective tax rate is a reasonable, reasonable estimate,” and borrowings are expected to “normalize” on an average basis.First Western Financial Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
60
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 194.31M | 186.35M | 177.77M | 165.38M | 127.51M | 101.04M |
| Gross Profit | 111.83M | 97.83M | 87.51M | 80.57M | 106.56M | 94.39M |
| EBITDA | 51.05M | 20.63M | 14.14M | 9.44M | 30.84M | 28.54M |
| Net Income | 21.23M | 13.19M | 8.47M | 5.22M | 21.70M | 20.61M |
Balance Sheet | ||||||
| Total Assets | 3.42B | 3.15B | 2.92B | 2.98B | 2.87B | 2.53B |
| Cash, Cash Equivalents and Short-Term Investments | 460.64M | 245.89M | 236.04M | 254.44M | 196.51M | 441.70M |
| Total Debt | 185.81M | 107.61M | 109.60M | 178.05M | 199.02M | 77.66M |
| Total Liabilities | 3.13B | 2.89B | 2.67B | 2.73B | 2.63B | 2.31B |
| Stockholders Equity | 288.12M | 265.56M | 252.32M | 242.74M | 240.86M | 219.04M |
Cash Flow | ||||||
| Free Cash Flow | 23.75M | -5.77M | -1.76M | 19.53M | 45.31M | 160.41M |
| Operating Cash Flow | 25.04M | -1.80M | -544.00K | 21.88M | 48.28M | 162.51M |
| Investing Cash Flow | -370.98M | -264.44M | 66.44M | -66.39M | -558.80M | -43.02M |
| Financing Cash Flow | 156.55M | 228.58M | -84.30M | 102.44M | 320.05M | 111.50M |
First Western Financial Technical Analysis
Positive
30.97
Price Trends
30.45
Positive
31.11
Negative
28.78
Positive
Market Momentum
0.18
Negative
57.17
Neutral
79.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYFW, the sentiment is Positive. The current price of 30.97 is above the 20-day moving average (MA) of 30.09, above the 50-day MA of 30.45, and above the 200-day MA of 28.78, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 57.17 is Neutral, neither overbought nor oversold. The STOCH value of 79.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MYFW.
First Western Financial Risk Analysis
First Western Financial disclosed 1 risk factors in its most recent earnings report. First Western Financial reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Western Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $268.85M | 10.20 | 15.15% | 2.13% | 4.90% | 24.16% | |
74 Outperform | $356.65M | 11.76 | 11.28% | 1.73% | 8.41% | 15.32% | |
74 Outperform | $292.90M | 14.28 | 7.46% | 3.26% | -3.50% | 15.90% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $302.94M | 14.22 | 7.67% | ― | 6.45% | 67.38% |
* Financial Sector Average
MYFW
First Western Financial
31.00
7.91
34.26%
CFFI
C&F Financial
109.70
42.94
64.31%
HWBK
Hawthorn Bancshares
38.96
9.45
32.01%
BPRN
Bank of Princeton
42.99
13.07
43.67%
First Western Financial Corporate Events
Business Operations and StrategyFinancial Disclosures
First Western Financial Reports Strong Third-Quarter 2026 Results
Positive
Oct 22, 2026
First Western Financial reported stronger third-quarter 2026 results on October 22, 2026, with net income available to common shareholders rising to $6.0 million, or $0.60 per diluted share, up from $5.7 million in the prior quarter and $3.2 milli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.