First Foundation (NASDAQ:FFWM – Get Rating) had its price objective reduced by research analysts at Piper Sandler to $17.50 in a research note issued on Tuesday, Stock Target Advisor reports. Piper Sandler’s price target indicates a potential upside of 16.51% from the stock’s previous close.
FFWM has been the subject of a number of other research reports. DA Davidson cut shares of First Foundation from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Wednesday, October 26th. StockNews.com started coverage on shares of First Foundation in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. B. Riley lifted their target price on shares of First Foundation from $21.00 to $23.00 in a research note on Wednesday, July 27th. Finally, Raymond James cut their target price on shares of First Foundation from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.10.
First Foundation Price Performance
FFWM traded up $0.20 during midday trading on Tuesday, reaching $15.02. 309,067 shares of the company’s stock were exchanged, compared to its average volume of 267,191. The firm has a market capitalization of $846.95 million, a price-to-earnings ratio of 6.95 and a beta of 1.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.33. First Foundation has a one year low of $14.05 and a one year high of $28.99. The business has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $19.73.
First Foundation (NASDAQ:FFWM – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The bank reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $99.86 million for the quarter, compared to the consensus estimate of $98.00 million. First Foundation had a return on equity of 10.71% and a net margin of 29.45%. As a group, research analysts predict that First Foundation will post 2.04 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in First Foundation by 79.5% during the 2nd quarter. US Bancorp DE now owns 1,712 shares of the bank’s stock worth $35,000 after acquiring an additional 758 shares during the period. Quadrant Capital Group LLC grew its holdings in First Foundation by 674.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $39,000 after acquiring an additional 1,888 shares during the period. Great West Life Assurance Co. Can acquired a new stake in First Foundation during the 3rd quarter worth $46,000. Point72 Hong Kong Ltd acquired a new stake in First Foundation during the 3rd quarter worth $66,000. Finally, Prospera Financial Services Inc acquired a new stake in First Foundation during the 1st quarter worth $84,000. Institutional investors own 69.58% of the company’s stock.
First Foundation Company Profile
First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. 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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and 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.
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