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

Shares of First Foundation Inc. (NASDAQ:FFWM) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.80.

A number of brokerages have weighed in on FFWM. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th.

First Foundation Trading Up 0.8 %

Shares of FFWM stock opened at $8.01 on Friday. The stock has a market cap of $659.62 million, a price-to-earnings ratio of -7.15 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation has a fifty-two week low of $4.84 and a fifty-two week high of $11.47. The firm’s 50 day moving average price is $7.26 and its two-hundred day moving average price is $6.59.

Institutional Trading of First Foundation

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of First Foundation by 12.4% in the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock worth $146,000 after buying an additional 2,579 shares during the last quarter. Empowered Funds LLC increased its stake in shares of First Foundation by 5.4% in the third quarter. Empowered Funds LLC now owns 52,660 shares of the bank’s stock worth $329,000 after buying an additional 2,680 shares during the last quarter. Creative Planning increased its stake in shares of First Foundation by 35.8% in the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of First Foundation by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank’s stock worth $829,000 after buying an additional 4,820 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.