First Foundation Inc. (NASDAQ:FFWM) Given Average Recommendation of “Hold” by Brokerages

Shares of First Foundation Inc. (NASDAQ:FFWM) have been given an average rating of “Hold” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.80.

Several equities research analysts have recently commented on the stock. Piper Sandler restated a “neutral” rating and issued a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. Raymond James downgraded shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. DA Davidson upgraded 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 research note on Wednesday, July 3rd. Stephens downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

First Foundation Stock Up 1.5 %

FFWM opened at $7.37 on Friday. First Foundation has a fifty-two week low of $4.41 and a fifty-two week high of $11.47. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $6.54 and its two-hundred day moving average price is $6.29. The company has a market capitalization of $416.49 million, a P/E ratio of -2.01 and a beta of 1.32.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. The firm had revenue of $164.57 million for the quarter, compared to the consensus estimate of $54.23 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. On average, analysts anticipate that First Foundation will post -0.07 EPS for the current year.

Institutional Trading of First Foundation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the period. SG Americas Securities LLC grew its position in shares of First Foundation by 108.1% during the 3rd quarter. SG Americas Securities LLC now owns 51,383 shares of the bank’s stock worth $321,000 after buying an additional 26,697 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of First Foundation during the 2nd quarter worth about $563,000. Mendon Capital Advisors Corp grew its position in shares of First Foundation by 144.3% during the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after buying an additional 381,946 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of 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 during the period. 73.10% of the stock is owned by institutional investors.

First Foundation Company Profile

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.