First Foundation (NASDAQ:FFWM) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of First Foundation (NASDAQ:FFWM) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.80.

First Foundation Trading Up 2.1 %

Shares of NASDAQ FFWM traded up $0.16 during midday trading on Thursday, reaching $7.67. The stock had a trading volume of 254,139 shares, compared to its average volume of 617,433. The company’s 50 day moving average price is $6.85 and its 200 day moving average price is $6.34. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.04 and a current ratio of 1.04. First Foundation has a twelve month low of $4.71 and a twelve month high of $11.47. The firm has a market cap of $520.41 million, a price-to-earnings ratio of -6.71 and a beta of 1.30.

Hedge Funds Weigh In On First Foundation

Several institutional investors have recently made changes to their positions in FFWM. Creative Planning raised its holdings in First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of First Foundation in the 1st quarter worth about $123,000. Hollencrest Capital Management lifted its position in First Foundation by 76.5% in the 3rd quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares in the last quarter. Boston Partners acquired a new position in First Foundation during the 1st quarter valued at about $128,000. Finally, The Manufacturers Life Insurance Company increased its holdings in First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors and hedge funds 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.