First Foundation (NASDAQ:FFWM) Downgraded to Market Perform at Raymond James

First Foundation (NASDAQ:FFWM) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports.

FFWM has been the topic of several other research reports. DA Davidson upgraded shares of First Foundation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $8.00 to $9.00 in a report on Wednesday. Wedbush restated a “neutral” rating and issued a $7.00 price target on shares of First Foundation in a research note on Wednesday, May 22nd. Finally, StockNews.com upgraded First Foundation from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Three 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 currently has a consensus rating of “Hold” and a consensus target price of $9.33.

First Foundation Stock Up 1.5 %

FFWM stock opened at $6.57 on Wednesday. The stock has a market capitalization of $371.27 million, a P/E ratio of -1.80 and a beta of 1.34. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 1.07. First Foundation has a 1-year low of $3.69 and a 1-year high of $11.47. The business has a fifty day moving average price of $5.86 and a 200-day moving average price of $7.47.

First Foundation (NASDAQ:FFWM) last issued its earnings results on Thursday, April 25th. The bank reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $51.07 million during the quarter, compared to analyst estimates of $58.93 million. First Foundation had a positive return on equity of 1.11% and a negative net margin of 32.44%. Equities analysts forecast that First Foundation will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of First Foundation

Several hedge funds have recently bought and sold shares of the stock. Citigroup Inc. lifted its position in shares of First Foundation by 149.3% during the 3rd quarter. Citigroup Inc. now owns 41,900 shares of the bank’s stock valued at $255,000 after buying an additional 25,095 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of First Foundation by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,812,024 shares of the bank’s stock worth $17,097,000 after purchasing an additional 20,799 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of First Foundation by 16.3% in the third quarter. Public Employees Retirement System of Ohio now owns 114,384 shares of the bank’s stock worth $695,000 after purchasing an additional 16,032 shares in the last quarter. Diversified Trust Co raised its position in shares of First Foundation by 8.5% during the 4th quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock valued at $135,000 after purchasing an additional 1,089 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of First Foundation by 116.3% during the 4th quarter. New York State Common Retirement Fund now owns 21,070 shares of the bank’s stock valued at $204,000 after buying an additional 11,328 shares in 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.