Piper Sandler Cuts First Foundation (NASDAQ:FFWM) Price Target to $6.00

First Foundation (NASDAQ:FFWM) had its target price trimmed by Piper Sandler from $7.00 to $6.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Separately, StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.75.

First Foundation Stock Performance

FFWM opened at $5.35 on Monday. The firm has a fifty day moving average price of $6.51 and a 200 day moving average price of $6.76. First Foundation has a 1 year low of $4.66 and a 1 year high of $8.72. The stock has a market cap of $440.79 million, a P/E ratio of -3.99 and a beta of 1.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Institutional Trading of First Foundation

A number of institutional investors and hedge funds have recently modified their holdings of FFWM. The Manufacturers Life Insurance Company increased its stake in First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after buying an additional 1,632 shares in the last quarter. Empowered Funds LLC increased its position in shares of First Foundation by 5.4% during the third quarter. Empowered Funds LLC now owns 52,660 shares of the bank’s stock worth $329,000 after purchasing an additional 2,680 shares in the last quarter. SG Americas Securities LLC raised its stake in First Foundation by 5.7% in the 4th quarter. SG Americas Securities LLC now owns 54,309 shares of the bank’s stock valued at $337,000 after purchasing an additional 2,926 shares during the last quarter. Creative Planning raised its stake in First Foundation by 35.8% in the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in First Foundation by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank’s stock valued at $829,000 after purchasing an additional 4,820 shares in the last quarter. Hedge funds and other 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.