First Foundation Inc. (NASDAQ:FFWM) Receives $7.80 Average Price Target from Brokerages

Shares of First Foundation Inc. (NASDAQ:FFWM) have received a consensus recommendation of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.80.

Several equities analysts have recently weighed in on the stock. Raymond James lowered shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. DA Davidson upgraded shares of First Foundation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $8.00 to $9.00 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 report on Wednesday, July 3rd. Wedbush decreased their target price on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company 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 report on Friday, July 26th.

Hedge Funds Weigh In On First Foundation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFWM. Riverview Trust Co bought a new position in shares of First Foundation in the first quarter valued at approximately $25,000. Creative Planning raised its position in shares of First Foundation by 35.8% in the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares during the period. Caxton Associates LP bought a new position in shares of First Foundation in the first quarter valued at approximately $123,000. Quadrature Capital Ltd bought a new position in shares of First Foundation in the fourth quarter valued at approximately $126,000. Finally, Boston Partners bought a new position in shares of First Foundation in the first quarter valued at approximately $128,000. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Performance

Shares of FFWM opened at $7.20 on Friday. The firm has a 50-day moving average price of $6.51 and a 200 day moving average price of $6.30. The firm has a market capitalization of $406.89 million, a PE ratio of -1.97 and a beta of 1.32. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation has a 52-week low of $4.41 and a 52-week high of $11.47.

First Foundation (NASDAQ:FFWM) last announced 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 firm had revenue of $164.57 million during the quarter, compared to analyst estimates of $54.23 million. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, sell-side analysts anticipate that First Foundation will post -0.07 earnings per share for the current fiscal year.

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.