First Foundation (NASDAQ:FFWM) Upgraded by StockNews.com to Hold Rating

First Foundation (NASDAQ:FFWM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $6.00 price objective on shares of First Foundation in a research note on Wednesday, July 3rd. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. DA Davidson raised shares of First Foundation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $8.00 to $9.00 in a report on Wednesday, July 3rd. Raymond James cut First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. Finally, Wedbush cut their target price on First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and an average target price of $7.80.

First Foundation Trading Down 3.0 %

Shares of FFWM stock opened at $6.74 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.84. The firm has a market cap of $380.89 million, a P/E ratio of -1.84 and a beta of 1.32. The company has a 50 day moving average of $6.84 and a 200-day moving average of $6.32. First Foundation has a 12-month low of $4.41 and a 12-month high of $11.47.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.33. The business had revenue of $61.06 million during the quarter, compared to analyst estimates of $60.60 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. Sell-side analysts anticipate that First Foundation will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FFWM. BNP Paribas Financial Markets grew its position in First Foundation by 19.1% during the first quarter. BNP Paribas Financial Markets now owns 91,285 shares of the bank’s stock worth $689,000 after buying an additional 14,633 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of First Foundation during the 1st quarter valued at about $478,000. Quantbot Technologies LP purchased a new position in shares of First Foundation during the first quarter worth about $199,000. Empowered Funds LLC grew its holdings in shares of First Foundation by 8.2% during the first quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of First Foundation by 48.7% in the first quarter. Russell Investments Group Ltd. now owns 114,849 shares of the bank’s stock worth $867,000 after purchasing an additional 37,627 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

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.