First Foundation Inc. (FFWM) Raised to “Buy” at Zacks Investment Research
First Foundation Inc. (NASDAQ:FFWM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $28.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.90% from the company’s current price.
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. “
Several other research analysts also recently commented on the company. DA Davidson reissued a “buy” rating and set a $25.00 target price on shares of First Foundation in a research note on Wednesday, July 6th. FBR & Co boosted their target price on First Foundation from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th.
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First Foundation (NASDAQ:FFWM) traded up 0.61% during mid-day trading on Wednesday, reaching $24.80. 53,422 shares of the company’s stock traded hands. First Foundation has a 1-year low of $20.00 and a 1-year high of $25.25. The firm has a 50-day moving average price of $24.59 and a 200-day moving average price of $23.05. The stock has a market cap of $402.26 million, a P/E ratio of 26.00 and a beta of 0.41.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.10. First Foundation had a net margin of 12.68% and a return on equity of 4.84%. Equities research analysts anticipate that First Foundation will post $1.38 EPS for the current fiscal year.
In other news, Director Victoria Collins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.19, for a total value of $115,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in First Foundation by 1,762.2% in the first quarter. UBS Group AG now owns 42,906 shares of the company’s stock valued at $963,000 after buying an additional 40,602 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of First Foundation by 1.2% in the first quarter. Geode Capital Management LLC now owns 68,279 shares of the company’s stock valued at $1,531,000 after buying an additional 820 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Foundation by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,526,613 shares of the company’s stock valued at $34,242,000 after buying an additional 38,855 shares during the last quarter. Aristotle Capital Boston LLC boosted its stake in shares of First Foundation by 37.4% in the first quarter. Aristotle Capital Boston LLC now owns 89,034 shares of the company’s stock valued at $1,997,000 after buying an additional 24,221 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its stake in shares of First Foundation by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 173,257 shares of the company’s stock valued at $3,725,000 after buying an additional 4,890 shares during the last quarter. 56.09% of the stock is owned by institutional investors.
First Foundation Company Profile
First Foundation Inc is a financial services holding company. The Company 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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