First Foundation (NASDAQ:FFWM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of First Foundation (NASDAQ:FFWM) from a hold rating to a sell rating in a research note published on Friday.

Other equities research analysts also recently issued research reports about the stock. 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 raised their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Wedbush cut their price objective on shares of First Foundation from $6.00 to $5.00 and set a neutral rating for the company in a research report on Wednesday, July 3rd. Piper Sandler reiterated a neutral rating and issued a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. Finally, Stephens boosted their price target on First Foundation from $6.00 to $7.00 and gave the company an equal weight rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $7.80.

First Foundation Stock Down 2.3 %

First Foundation stock opened at $6.92 on Friday. 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 fifty-two week low of $4.41 and a fifty-two week high of $11.47. The firm has a fifty day moving average price of $5.94 and a two-hundred day moving average price of $7.02. The firm has a market cap of $391.05 million, a price-to-earnings ratio of -1.89 and a beta of 1.34.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $164.57 million during the quarter, compared to the consensus estimate of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, analysts forecast that First Foundation will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFWM. Lord Abbett & CO. LLC bought a new stake in shares of First Foundation in the 1st quarter valued at approximately $3,819,000. Azora Capital LP grew its position in First Foundation by 3.1% in the fourth quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock valued at $29,366,000 after acquiring an additional 90,840 shares during the period. BHZ Capital Management LP raised 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 acquiring an additional 187,182 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Foundation by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,812,024 shares of the bank’s stock valued at $17,097,000 after acquiring an additional 20,799 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of First Foundation during the fourth quarter valued at $126,000. Institutional investors own 73.10% of the company’s stock.

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.