BidaskClub cut shares of First Foundation (NASDAQ:FFWM) from a buy rating to a hold rating in a research report report published on Wednesday morning.
A number of other research firms have also weighed in on FFWM. Zacks Investment Research raised First Foundation from a sell rating to a hold rating in a report on Friday, March 16th. B. Riley reaffirmed a buy rating and set a $22.00 target price (down previously from $23.00) on shares of First Foundation in a report on Thursday, February 1st. TheStreet raised First Foundation from a c+ rating to a b rating in a report on Monday, March 19th. Piper Jaffray reiterated a hold rating and set a $20.00 price target on shares of First Foundation in a research report on Tuesday, January 9th. Finally, Sandler O’Neill reiterated a buy rating on shares of First Foundation in a research report on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $20.70.
FFWM stock opened at $18.17 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 1.72. The stock has a market cap of $705.35, a price-to-earnings ratio of 18.46, a P/E/G ratio of 2.04 and a beta of 0.70. First Foundation has a twelve month low of $15.06 and a twelve month high of $19.84.
In other news, Director Warren D. Fix sold 16,254 shares of First Foundation stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $18.38, for a total transaction of $298,748.52. Following the completion of the sale, the director now owns 73,234 shares in the company, valued at approximately $1,346,040.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald L. Larsen sold 22,000 shares of First Foundation stock in a transaction dated 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 owns 22,000 shares of the company’s stock, valued at approximately $409,420. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,791 shares of company stock valued at $2,713,622. Corporate insiders own 18.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FFWM. Bank of New York Mellon Corp boosted its position in shares of First Foundation by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 158,313 shares of the bank’s stock valued at $2,832,000 after acquiring an additional 28,900 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First Foundation during the 3rd quarter valued at about $117,000. Wells Fargo & Company MN boosted its position in shares of First Foundation by 76.3% during the 3rd quarter. Wells Fargo & Company MN now owns 126,142 shares of the bank’s stock valued at $2,257,000 after acquiring an additional 54,588 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of First Foundation by 120.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 112,765 shares of the bank’s stock valued at $2,018,000 after acquiring an additional 61,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Foundation by 21.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 442,734 shares of the bank’s stock valued at $7,921,000 after acquiring an additional 78,969 shares during the last quarter. Hedge funds and other institutional investors own 53.06% 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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