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

First Foundation (NASDAQ:FFWM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Separately, Piper Sandler reduced their target price on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Trading Up 0.5 %

Shares of FFWM opened at $4.63 on Thursday. First Foundation has a fifty-two week low of $4.42 and a fifty-two week high of $8.52. The company has a market capitalization of $381.43 million, a PE ratio of -3.46 and a beta of 1.19. The stock has a fifty day moving average of $4.99 and a two-hundred day moving average of $6.21. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

Hedge Funds Weigh In On First Foundation

A number of hedge funds have recently made changes to their positions in FFWM. Charles Schwab Investment Management Inc. raised its position in shares of First Foundation by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock worth $3,144,000 after buying an additional 90,612 shares during the period. The Manufacturers Life Insurance Company increased its stake in First Foundation by 12.4% during the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock worth $146,000 after acquiring an additional 2,579 shares during the last quarter. BNP Paribas Financial Markets increased its stake in First Foundation by 90.5% during the third quarter. BNP Paribas Financial Markets now owns 129,139 shares of the bank’s stock worth $806,000 after acquiring an additional 61,347 shares during the last quarter. Centiva Capital LP purchased a new position in shares of First Foundation in the 3rd quarter worth about $190,000. Finally, HighTower Advisors LLC acquired a new position in shares of First Foundation in the 3rd quarter valued at about $87,000. Institutional investors and hedge funds 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.