First Foundation (NASDAQ:FFWM) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of First Foundation (NASDAQ:FFWM) from a sell rating to a hold rating in a research note released on Wednesday morning.

Several other analysts also recently weighed in on the company. Wedbush lowered their price objective on First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Raymond James cut shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. DA Davidson upgraded shares of First Foundation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a report on Wednesday, July 3rd. Finally, Piper Sandler restated a “neutral” rating and set a $6.00 price target on shares of First Foundation in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.80.

First Foundation Trading Down 0.3 %

NASDAQ FFWM opened at $6.71 on Wednesday. The firm has a market cap of $455.27 million, a PE ratio of -5.99 and a beta of 1.30. First Foundation has a 1-year low of $4.71 and a 1-year high of $11.47. The stock has a 50-day moving average of $6.84 and a 200-day moving average of $6.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of First Foundation by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock valued at $21,592,000 after buying an additional 31,026 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Foundation by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after acquiring an additional 24,440 shares in the last quarter. Mendon Capital Advisors Corp boosted its stake in First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after acquiring an additional 381,946 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in First Foundation in the first quarter worth about $3,819,000. Finally, American Century Companies Inc. increased its stake in shares of First Foundation by 1.5% during the second quarter. American Century Companies Inc. now owns 500,490 shares of the bank’s stock valued at $3,278,000 after purchasing an additional 7,302 shares in the last quarter. Hedge funds and other 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.