First Foundation (NASDAQ:FFWM) PT Lowered to $7.00

First Foundation (NASDAQ:FFWM) had its price objective decreased by stock analysts at Wedbush from $8.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Wedbush’s target price would indicate a potential upside of 9.37% from the stock’s current price.

Separately, Raymond James raised First Foundation from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $9.50 to $12.00 in a research note on Friday, January 5th.

First Foundation Price Performance

NASDAQ:FFWM traded down $0.30 during trading hours on Friday, hitting $6.40. 144,901 shares of the company’s stock traded hands, compared to its average volume of 589,683. First Foundation has a 52 week low of $3.69 and a 52 week high of $11.47. The business’s fifty day simple moving average is $7.38 and its two-hundred day simple moving average is $7.48. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.52. The firm has a market cap of $361.66 million, a P/E ratio of -1.88 and a beta of 1.23.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $62.03 million. First Foundation had a positive return on equity of 1.80% and a negative net margin of 31.95%. On average, research analysts anticipate that First Foundation will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $8.16, for a total transaction of $204,000.00. Following the transaction, the chairman now owns 1,230,622 shares in the company, valued at approximately $10,041,875.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Nierenberg Investment Management Company Inc. bought a new position in First Foundation in the 3rd quarter worth about $411,000. Swiss National Bank boosted its position in shares of First Foundation by 1.9% during the third quarter. Swiss National Bank now owns 111,600 shares of the bank’s stock valued at $679,000 after buying an additional 2,100 shares during the last quarter. Algert Global LLC bought a new stake in First Foundation in the 3rd quarter worth about $2,305,000. Verdad Advisers LP purchased a new position in First Foundation in the 3rd quarter worth about $365,000. Finally, Panagora Asset Management Inc. bought a new position in First Foundation during the 3rd quarter valued at about $1,843,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

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.