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 firm currently has a $28.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.90% from the stock’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 have also commented on FFWM. FBR & Co initiated coverage on shares of First Foundation in a report on Friday, July 1st. They issued an “outperform” rating and a $26.00 price objective for the company. DA Davidson restated a “buy” rating and issued a $25.00 price objective on shares of First Foundation in a report on Wednesday, July 6th.

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Shares of First Foundation (NASDAQ:FFWM) traded up 0.61% during trading on Wednesday, reaching $24.80. 53,422 shares of the company were exchanged. First Foundation has a one year low of $20.00 and a one year high of $25.25. The stock has a market capitalization of $402.26 million, a PE ratio of 26.00 and a beta of 0.41. The stock has a 50-day moving average price of $24.60 and a 200-day moving average price of $23.06.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ 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%. Analysts forecast that First Foundation will post $1.38 EPS for the current year.

In related news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $23.43, for a total value of $117,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. American International Group Inc. purchased a new stake in shares of First Foundation during the second quarter valued at approximately $163,000. Dimensional Fund Advisors LP purchased a new stake in shares of First Foundation during the second quarter valued at approximately $226,000. Rhumbline Advisers purchased a new stake in shares of First Foundation during the second quarter valued at approximately $238,000. Nationwide Fund Advisors increased its stake in shares of First Foundation by 193.8% in the second quarter. Nationwide Fund Advisors now owns 12,928 shares of the company’s stock valued at $278,000 after buying an additional 8,528 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of First Foundation during the second quarter valued at approximately $308,000. 56.09% of the stock is currently 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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