First Foundation (NASDAQ:FFWM) Rating Lowered to Hold at Stephens

Stephens cut shares of First Foundation (NASDAQ:FFWM) from a strong-buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Piper Sandler restated a neutral rating and set a $6.00 target price on shares of First Foundation in a research report on Wednesday, July 3rd. Wedbush cut their price objective on First Foundation from $6.00 to $5.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Raymond James lowered shares of First Foundation from a strong-buy rating to a market perform rating in a report on Wednesday, July 3rd. DA Davidson raised shares of First Foundation from a neutral rating to a buy rating and lifted their price target for the company from $8.00 to $9.00 in a report on Wednesday, July 3rd. Finally, StockNews.com cut shares of First Foundation from a hold rating to a sell rating in a research note on Friday, July 26th. 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, the stock has a consensus rating of Hold and an average price target of $7.80.

First Foundation Stock Up 2.0 %

First Foundation stock opened at $6.70 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation has a 1-year low of $4.41 and a 1-year high of $11.47. The firm’s fifty day simple moving average is $6.51 and its 200-day simple moving average is $6.32. The company has a market capitalization of $378.63 million, a P/E ratio of -1.83 and a beta of 1.33.

First Foundation (NASDAQ:FFWM) last posted its earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share (EPS) for the quarter, beating 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 business had revenue of $164.57 million for the quarter, compared to analyst estimates of $54.23 million. During the same period last year, the business posted $0.07 EPS. Sell-side analysts forecast that First Foundation will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Foundation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in shares of First Foundation during the 1st quarter worth about $25,000. Caxton Associates LP bought a new stake in First Foundation in the first quarter valued at approximately $123,000. Quadrature Capital Ltd acquired a new stake in shares of First Foundation in the fourth quarter valued at approximately $126,000. Boston Partners bought a new position in shares of First Foundation during the 1st quarter worth approximately $128,000. Finally, The Manufacturers Life Insurance Company increased its holdings 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 acquiring an additional 1,632 shares during the last quarter. 73.10% of the stock is owned by institutional investors.

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.