First Foundation (NASDAQ:FFWM) Given New $6.00 Price Target at Piper Sandler

First Foundation (NASDAQ:FFWM) had its price target cut by Piper Sandler from $7.00 to $6.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

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

First Foundation Price Performance

NASDAQ FFWM opened at $5.03 on Monday. First Foundation has a 12 month low of $4.66 and a 12 month high of $8.88. The firm has a market capitalization of $413.86 million, a PE ratio of -3.75 and a beta of 1.36. The company’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $6.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Institutional Trading of First Foundation

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after acquiring an additional 1,019,484 shares during the last quarter. Azora Capital LP raised its position in First Foundation by 8.8% during the third quarter. Azora Capital LP now owns 4,090,296 shares of the bank’s stock valued at $25,523,000 after buying an additional 332,252 shares during the period. Strategic Value Bank Partners LLC lifted its position in shares of First Foundation by 115.3% in the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock worth $18,086,000 after purchasing an additional 1,551,861 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Foundation by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after buying an additional 24,440 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of First Foundation by 2.0% during the third quarter. State Street Corp now owns 1,863,369 shares of the bank’s stock worth $11,627,000 after acquiring an additional 36,338 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors.

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.