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

First Foundation Inc. (NASDAQ:FFWM) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating 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 analysts recently commented on the stock. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Raymond James cut First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. Wedbush reduced their price objective on First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $6.00 price target on shares of First Foundation in a research report on Wednesday, July 3rd.

Institutional Trading of First Foundation

Several hedge funds have recently modified their holdings of FFWM. Riverview Trust Co acquired a new stake in shares of First Foundation in the first quarter valued at $25,000. Caxton Associates LP acquired a new position in shares of First Foundation during the first quarter worth approximately $123,000. Quadrature Capital Ltd bought a new stake in shares of First Foundation during the fourth quarter valued at approximately $126,000. Boston Partners acquired a new stake in shares of First Foundation in the first quarter valued at approximately $128,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of First Foundation by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Stock Performance

Shares of NASDAQ FFWM opened at $6.77 on Monday. The stock has a market capitalization of $382.59 million, a P/E ratio of -1.85 and a beta of 1.33. The firm’s 50-day moving average price is $6.57 and its two-hundred day moving average price is $6.40. First Foundation has a 52-week low of $4.41 and a 52-week 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.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. The business had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $54.23 million. During the same quarter last year, the business posted $0.07 earnings per share. As a group, sell-side analysts forecast that First Foundation will post -0.06 earnings per share for the current year.

About First Foundation

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.