First Foundation (NASDAQ:FFWM) Stock Rating Lowered by StockNews.com

First Foundation (NASDAQ:FFWM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Separately, Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, First Foundation presently has an average rating of “Hold” and a consensus target price of $7.80.

First Foundation Stock Performance

NASDAQ:FFWM opened at $7.66 on Thursday. The firm’s fifty day simple moving average is $6.84 and its 200 day simple moving average is $6.33. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation has a twelve month low of $4.71 and a twelve month high of $11.47. The firm has a market capitalization of $519.75 million, a price-to-earnings ratio of -6.84 and a beta of 1.30.

Hedge Funds Weigh In On First Foundation

A number of institutional investors have recently made changes to their positions in FFWM. Caxton Associates LP bought a new stake in shares of First Foundation in the first quarter worth $123,000. Creative Planning increased its position in shares of First Foundation by 35.8% in the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after purchasing an additional 4,336 shares during the last quarter. Boston Partners acquired a new stake in shares of First Foundation in the 1st quarter valued at about $128,000. Hollencrest Capital Management lifted its position in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock worth $124,000 after purchasing an additional 8,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares during the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

About First Foundation

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.