First Foundation (NASDAQ:FFWM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “First Foundation Inc. engages in providing integrated investment management, wealth planning, consulting, trust and banking services. It operates in two segments, Banking and Wealth Management. The company offers a range of bank deposit products; loan products; specialized services comprising trust services, on-line banking, remote deposit capture, merchant credit card services, ATM cards, Visa debit cards, and business sweep accounts, as well as insurance brokerage services. It offers investment portfolio management and financial planning services; advisory and coordination services and wealth management services. First Foundation Inc. is headquartered in Irvine, California. “
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of First Foundation from a “c+” rating to a “b-” rating in a research note on Thursday, November 1st. B. Riley set a $19.00 price objective on shares of First Foundation and gave the company a “buy” rating in a research note on Friday, October 12th. BidaskClub upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Raymond James reduced their price objective on shares of First Foundation from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, September 21st. Finally, ValuEngine upgraded shares of First Foundation from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. First Foundation has a consensus rating of “Hold” and an average target price of $19.25.
Shares of NASDAQ FFWM opened at $14.72 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.44. First Foundation has a 52 week low of $11.79 and a 52 week high of $20.43. The stock has a market capitalization of $653.77 million, a P/E ratio of 15.18, a P/E/G ratio of 1.65 and a beta of 0.76.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. First Foundation had a net margin of 13.75% and a return on equity of 9.64%. The firm had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $49.89 million. As a group, research analysts anticipate that First Foundation will post 1.07 EPS for the current fiscal year.
In other First Foundation news, insider John Hakopian sold 20,000 shares of First Foundation stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $16.25, for a total transaction of $325,000.00. Following the completion of the transaction, the insider now owns 33,200 shares in the company, valued at $539,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 30,000 shares of First Foundation stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $16.39, for a total transaction of $491,700.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $327,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,000 shares of company stock valued at $1,373,120. 14.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of FFWM. Ferguson Wellman Capital Management Inc. acquired a new position in shares of First Foundation in the fourth quarter valued at approximately $239,000. Alpine Woods Capital Investors LLC acquired a new position in shares of First Foundation in the third quarter valued at approximately $248,000. Tower Research Capital LLC TRC acquired a new position in shares of First Foundation in the second quarter valued at approximately $254,000. GSA Capital Partners LLP acquired a new position in shares of First Foundation in the second quarter valued at approximately $260,000. Finally, American International Group Inc. raised its position in shares of First Foundation by 15.7% in the third quarter. American International Group Inc. now owns 25,275 shares of the bank’s stock valued at $395,000 after buying an additional 3,428 shares during the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.
About First Foundation
First Foundation, Inc is a financial services company, which engages in the provision of comprehensive platform of personalized financial services to individuals, businesses, and organizations. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers trust management, depository accounts, commercial lending, consulting and other services.
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