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

First Foundation (NASDAQ:FFWM) had its price target reduced by Wedbush from $6.00 to $5.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock.

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

First Foundation Trading Down 23.9 %

First Foundation stock opened at $5.00 on Wednesday. The firm has a 50 day moving average of $5.79 and a 200 day moving average of $7.44. The firm has a market capitalization of $282.56 million, a price-to-earnings ratio of -1.37 and a beta of 1.34. First Foundation has a 12-month low of $3.69 and a 12-month high of $11.47. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.84.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FFWM. Lord Abbett & CO. LLC purchased a new position in shares of First Foundation in the first quarter valued at $3,819,000. rhino investment partners Inc purchased a new position in shares of First Foundation in the fourth quarter valued at $4,093,000. Kennedy Capital Management LLC purchased a new position in shares of First Foundation in the first quarter valued at $1,731,000. BHZ Capital Management LP grew its holdings in shares of First Foundation by 33.7% in the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock valued at $7,186,000 after purchasing an additional 187,182 shares in the last quarter. Finally, Verdad Advisers LP lifted its position in First Foundation by 175.0% in the fourth quarter. Verdad Advisers LP now owns 165,000 shares of the bank’s stock worth $1,597,000 after buying an additional 105,000 shares during the last quarter. 73.10% of the stock is owned by hedge funds and other 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.