First Foundation (NASDAQ:FFWM) PT Lowered to $5.00

First Foundation (NASDAQ:FFWM) had its price target lowered by research analysts at Wedbush from $6.00 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock.

A number of other equities analysts have also recently weighed in on FFWM. Stephens cut First Foundation from an “overweight” rating to an “equal weight” rating in a report on Wednesday. StockNews.com upgraded First Foundation from a “sell” rating to a “hold” rating in a report on Friday, April 26th. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a research note on Wednesday. Finally, Raymond James lowered First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.00.

First Foundation Stock Down 23.9 %

Shares of NASDAQ:FFWM opened at $5.00 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.84. The business has a fifty day moving average of $5.79 and a two-hundred day moving average of $7.44. The stock has a market cap of $282.56 million, a P/E ratio of -1.37 and a beta of 1.34. First Foundation has a 52-week low of $3.69 and a 52-week high of $11.47.

First Foundation (NASDAQ:FFWM) last issued its earnings results on Thursday, April 25th. The bank reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $51.07 million during the quarter, compared to analysts’ expectations of $58.93 million. First Foundation had a positive return on equity of 1.11% and a negative net margin of 32.44%. On average, research analysts expect that First Foundation will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On First Foundation

Several hedge funds and other institutional investors have recently made changes to their positions in FFWM. Lord Abbett & CO. LLC purchased a new position in shares of First Foundation in the 1st quarter valued at about $3,819,000. rhino investment partners Inc purchased a new stake in First Foundation during the fourth quarter worth approximately $4,093,000. Kennedy Capital Management LLC purchased a new stake in First Foundation during the first quarter worth approximately $1,731,000. BHZ Capital Management LP lifted its stake in First Foundation by 33.7% during the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock worth $7,186,000 after purchasing an additional 187,182 shares during the last quarter. Finally, Verdad Advisers LP lifted its stake in First Foundation by 175.0% during the fourth quarter. Verdad Advisers LP now owns 165,000 shares of the bank’s stock worth $1,597,000 after purchasing an additional 105,000 shares during 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.