First Foundation (NASDAQ:FFWM) Cut to Strong Sell at BidaskClub

First Foundation (NASDAQ:FFWM) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, March 22nd, BidAskClub reports.

A number of other brokerages also recently issued reports on FFWM. Zacks Investment Research raised shares of First Foundation from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, January 10th. ValuEngine downgraded shares of First Foundation from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. First Foundation currently has a consensus rating of “Hold” and a consensus target price of $19.08.

Shares of NASDAQ FFWM traded down $0.19 during trading on Friday, reaching $13.90. 63,281 shares of the company traded hands, compared to its average volume of 233,010. The company has a quick ratio of 0.95, a current ratio of 1.06 and a debt-to-equity ratio of 1.27. The company has a market cap of $624.80 million, a PE ratio of 11.88, a PEG ratio of 1.60 and a beta of 0.83. First Foundation has a 52-week low of $11.79 and a 52-week high of $20.43.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Wednesday, January 30th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $50.07 million for the quarter, compared to the consensus estimate of $51.61 million. First Foundation had a net margin of 17.67% and a return on equity of 9.82%. As a group, equities research analysts anticipate that First Foundation will post 1.25 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in First Foundation by 0.6% during the 3rd quarter. FMR LLC now owns 3,991,293 shares of the bank’s stock worth $62,344,000 after acquiring an additional 22,879 shares during the period. BlackRock Inc. raised its stake in First Foundation by 6.9% during the 4th quarter. BlackRock Inc. now owns 2,636,417 shares of the bank’s stock worth $33,906,000 after acquiring an additional 170,228 shares during the period. Dimensional Fund Advisors LP raised its stake in First Foundation by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,602,366 shares of the bank’s stock worth $20,606,000 after acquiring an additional 321,622 shares during the period. Vanguard Group Inc raised its stake in First Foundation by 6.8% during the 3rd quarter. Vanguard Group Inc now owns 1,550,515 shares of the bank’s stock worth $24,218,000 after acquiring an additional 98,604 shares during the period. Finally, Vanguard Group Inc. raised its stake in First Foundation by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,550,515 shares of the bank’s stock worth $24,218,000 after acquiring an additional 98,604 shares during the period. Institutional investors own 60.92% of the company’s stock.

About First Foundation

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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Analyst Recommendations for First Foundation (NASDAQ:FFWM)

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