First Foundation (NASDAQ:FFWM) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities analysts also recently issued reports on the company. ValuEngine upgraded First Foundation from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 6th. Piper Jaffray Companies set a $16.00 price target on First Foundation and gave the stock a “hold” rating in a research note on Monday, July 30th. Sandler O’Neill downgraded First Foundation from a “buy” rating to a “hold” rating and set a $21.50 price target on the stock. in a research note on Tuesday, July 31st. Zacks Investment Research downgraded First Foundation from a “hold” rating to a “strong sell” rating in a research report on Friday, August 3rd. Finally, Raymond James lowered their target price on First Foundation from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.08.

FFWM stock opened at $14.98 on Thursday. The firm has a market capitalization of $693.48 million, a PE ratio of 15.44, a PEG ratio of 2.24 and a beta of 0.60. First Foundation has a 1 year low of $14.24 and a 1 year high of $20.43. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 1.53.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Monday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.06). The firm had revenue of $43.24 million during the quarter, compared to analysts’ expectations of $45.38 million. First Foundation had a return on equity of 9.51% and a net margin of 12.87%. On average, equities research analysts expect that First Foundation will post 1 earnings per share for the current fiscal year.

In related news, Chairman Ulrich E. Keller, Jr. sold 9,400 shares of First Foundation stock in a transaction on Monday, September 10th. The stock was sold at an average price of $17.01, for a total transaction of $159,894.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $340,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Max Briggs bought 7,400 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average price of $16.38 per share, for a total transaction of $121,212.00. Following the completion of the transaction, the director now directly owns 8,510 shares of the company’s stock, valued at approximately $139,393.80. The disclosure for this purchase can be found here. Insiders have purchased 13,900 shares of company stock worth $224,822 over the last quarter. 14.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of First Foundation by 26.1% in the second quarter. FMR LLC now owns 3,968,414 shares of the bank’s stock valued at $73,574,000 after acquiring an additional 820,394 shares in the last quarter. BlackRock Inc. lifted its position in shares of First Foundation by 21.8% in the second quarter. BlackRock Inc. now owns 1,974,768 shares of the bank’s stock valued at $36,612,000 after acquiring an additional 353,161 shares in the last quarter. Millennium Management LLC purchased a new position in shares of First Foundation in the second quarter valued at about $5,968,000. Dimensional Fund Advisors LP lifted its position in shares of First Foundation by 39.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,001,365 shares of the bank’s stock valued at $18,566,000 after acquiring an additional 282,455 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of First Foundation by 130.1% in the second quarter. Wells Fargo & Company MN now owns 419,889 shares of the bank’s stock valued at $7,785,000 after acquiring an additional 237,423 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.

First Foundation Company Profile

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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Analyst Recommendations for First Foundation (NASDAQ:FFWM)

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