First Foundation (NASDAQ:FFWM) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Monday, March 19th.
FFWM has been the subject of a number of other research reports. Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. BidaskClub upgraded shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Piper Jaffray reiterated a “hold” rating and set a $20.00 target price on shares of First Foundation in a research report on Tuesday, January 9th. Finally, B. Riley reiterated a “buy” rating and set a $22.00 target price (down previously from $23.00) on shares of First Foundation in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. First Foundation presently has a consensus rating of “Buy” and an average target price of $20.70.
NASDAQ FFWM traded up $0.15 during trading hours on Monday, reaching $18.60. 142,302 shares of the company were exchanged, compared to its average volume of 154,539. First Foundation has a 1 year low of $15.06 and a 1 year high of $19.84. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market capitalization of $719.00, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.70.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $42.60 million during the quarter, compared to the consensus estimate of $40.94 million. First Foundation had a net margin of 15.71% and a return on equity of 10.28%. analysts forecast that First Foundation will post 1.27 EPS for the current fiscal year.
In related news, Director Gerald L. Larsen sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $18.61, for a total value of $409,420.00. Following the sale, the director now directly owns 22,000 shares of the company’s stock, valued at $409,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Hakopian sold 10,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $18.78, for a total transaction of $202,824.00. Following the completion of the sale, the insider now directly owns 33,200 shares in the company, valued at $623,496. The disclosure for this sale can be found here. Insiders sold 145,791 shares of company stock valued at $2,713,622 over the last 90 days. 18.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in First Foundation in the third quarter valued at approximately $117,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new stake in First Foundation in the fourth quarter valued at approximately $155,000. Teacher Retirement System of Texas purchased a new stake in First Foundation in the fourth quarter valued at approximately $194,000. Wedbush Securities Inc. purchased a new stake in First Foundation in the fourth quarter valued at approximately $210,000. Finally, Citadel Advisors LLC purchased a new position in shares of First Foundation during the third quarter worth approximately $221,000. 53.06% of the stock is currently owned by institutional investors and hedge funds.
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About First Foundation
First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.
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