Piper Sandler Lowers First Foundation (NASDAQ:FFWM) Price Target to $6.00

First Foundation (NASDAQ:FFWM) had its price target reduced by analysts at Piper Sandler from $7.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 17.35% from the stock’s current price.

Separately, StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.75.

First Foundation Stock Up 1.7 %

Shares of NASDAQ:FFWM opened at $5.11 on Monday. The company has a market capitalization of $421.11 million, a PE ratio of -3.82 and a beta of 1.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation has a 1 year low of $4.66 and a 1 year high of $8.88. The business has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $6.77.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new stake in First Foundation in the 3rd quarter worth approximately $72,000. HighTower Advisors LLC bought a new position in shares of First Foundation in the 3rd quarter worth approximately $87,000. Creative Planning boosted its holdings 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. Intech Investment Management LLC bought a new position in First Foundation in the third quarter worth approximately $104,000. Finally, Hollencrest Capital Management grew its stake in shares of First Foundation by 76.5% during the 3rd quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares during the period. 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.