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

First Foundation Inc. (NASDAQ:FFWM) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.80.

A number of brokerages recently weighed in on FFWM. Raymond James lowered shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Stephens lifted their price objective on First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Piper Sandler restated a “neutral” rating and set a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. Finally, DA Davidson raised shares of First Foundation from a “neutral” rating to a “buy” rating and raised their price target for the company from $8.00 to $9.00 in a report on Wednesday, July 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FFWM. Azora Capital LP increased its position in shares of First Foundation by 3.1% during the 4th quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock valued at $29,366,000 after purchasing an additional 90,840 shares during the last quarter. Vanguard Group Inc. raised its position in First Foundation by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock worth $21,592,000 after acquiring an additional 31,026 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Foundation by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after acquiring an additional 24,440 shares during the last quarter. BHZ Capital Management LP grew its position in shares of First Foundation by 33.7% during the 4th quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock valued at $7,186,000 after acquiring an additional 187,182 shares during the period. Finally, Mendon Capital Advisors Corp increased its stake in shares of First Foundation by 144.3% in the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after purchasing an additional 381,946 shares in the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

First Foundation Price Performance

Shares of NASDAQ:FFWM opened at $6.77 on Monday. The business has a fifty day moving average price of $6.57 and a 200-day moving average price of $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 company has a market capitalization of $382.59 million, a PE ratio of -1.85 and a beta of 1.33. First Foundation has a 1-year low of $4.41 and a 1-year high of $11.47.

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