Brokerages Set First Foundation Inc. (NASDAQ:FFWM) Price Target at $7.80

Shares of First Foundation Inc. (NASDAQ:FFWM) have received an average rating of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. Four equities 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 target among brokerages that have issued a report on the stock in the last year is $7.80.

FFWM has been the topic of a number of recent analyst reports. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. 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, July 26th. Piper Sandler reissued a “neutral” rating and issued a $6.00 price target on shares of First Foundation in a research note on Wednesday, July 3rd. Raymond James lowered First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. Finally, StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

Hedge Funds Weigh In On First Foundation

Institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC bought a new stake in First Foundation during the first quarter worth $3,819,000. rhino investment partners Inc bought a new stake in First Foundation during the fourth quarter worth $4,093,000. Mendon Capital Advisors Corp grew its holdings in First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after buying an additional 381,946 shares in the last quarter. Modera Wealth Management LLC bought a new stake in First Foundation during the second quarter worth $1,870,000. Finally, Kennedy Capital Management LLC bought a new stake in First Foundation during the first quarter worth $1,731,000. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Price Performance

First Foundation stock opened at $6.66 on Monday. The stock’s 50 day moving average is $6.53 and its 200 day moving average is $6.42. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $376.37 million, a P/E ratio of -1.82 and a beta of 1.33. First Foundation has a one year low of $4.41 and a one year high of $11.47.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $164.57 million for the quarter, compared to analyst estimates of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same period in the previous year, the firm earned $0.07 earnings per share. As a group, research analysts expect that First Foundation will post -0.06 EPS for the current 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.