Piper Jaffray Companies reaffirmed their hold rating on shares of First Foundation (NASDAQ:FFWM) in a research note issued to investors on Tuesday morning. The brokerage currently has a $20.00 price objective on the bank’s stock.
Several other research analysts also recently commented on FFWM. ValuEngine downgraded First Foundation from a buy rating to a hold rating in a research note on Monday, October 2nd. TheStreet raised First Foundation from a c- rating to a b- rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research downgraded First Foundation from a buy rating to a hold rating in a research note on Monday, December 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $20.38.
Shares of First Foundation (NASDAQ:FFWM) traded up $0.14 during mid-day trading on Tuesday, hitting $18.71. The stock had a trading volume of 79,695 shares, compared to its average volume of 115,286. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. The firm has a market cap of $654.24, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 2.03 and a beta of 0.66. First Foundation has a twelve month low of $13.64 and a twelve month high of $19.84.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. The firm had revenue of $38.30 million during the quarter, compared to the consensus estimate of $38.83 million. research analysts forecast that First Foundation will post 0.97 EPS for the current year.
In related news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $368,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. purchased a new stake in First Foundation in the 2nd quarter valued at $4,926,000. JPMorgan Chase & Co. grew its holdings in First Foundation by 531.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,998 shares of the bank’s stock valued at $1,857,000 after buying an additional 95,110 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in First Foundation in the 3rd quarter valued at $1,671,000. Dimensional Fund Advisors LP grew its holdings in First Foundation by 21.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 442,734 shares of the bank’s stock valued at $7,921,000 after buying an additional 78,969 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in First Foundation by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,152,829 shares of the bank’s stock valued at $18,941,000 after buying an additional 62,230 shares in the last quarter. 50.28% of the stock is owned by hedge funds and other institutional investors.
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First Foundation Company Profile
First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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