First Foundation Inc. (NASDAQ:FFWM) Receives Consensus Rating of “Hold” from Analysts

First Foundation Inc. (NASDAQ:FFWM) has received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.80.

Several brokerages have issued reports on FFWM. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Piper Sandler reiterated a “neutral” rating and set a $6.00 price target on shares of First Foundation in a research report on Wednesday, July 3rd. Wedbush dropped their target price on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Friday, July 26th.

First Foundation Trading Up 2.6 %

Shares of First Foundation stock opened at $6.81 on Friday. The stock has a market capitalization of $384.85 million, a P/E ratio of -1.86 and a beta of 1.32. First Foundation has a 12-month low of $4.41 and a 12-month high of $11.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.84. The company has a 50-day simple moving average of $6.49 and a 200 day simple moving average of $6.30.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company 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 quarter last year, the business posted $0.07 earnings per share. Research analysts expect that First Foundation will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC acquired a new stake in shares of First Foundation during the first quarter worth $3,819,000. BHZ Capital Management LP raised its position in shares of First Foundation by 33.7% during the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock worth $7,186,000 after purchasing an additional 187,182 shares during the period. Kennedy Capital Management LLC acquired a new position in shares of First Foundation in the 1st quarter valued at approximately $1,731,000. Elizabeth Park Capital Advisors Ltd. boosted its holdings in shares of First Foundation by 26.7% in the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 463,953 shares of the bank’s stock valued at $3,039,000 after buying an additional 97,732 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in First Foundation in the 2nd quarter worth $838,000. Institutional investors 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.