BidaskClub Downgrades First Foundation (FFWM) to Sell

First Foundation (NASDAQ:FFWM) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

FFWM has been the topic of several other reports. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Monday, December 4th. Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 target price on shares of First Foundation in a research note on Tuesday, January 9th. ValuEngine lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, TheStreet raised shares of First Foundation from a “c-” rating to a “b-” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.38.

First Foundation (NASDAQ FFWM) remained flat at $$19.12 during mid-day trading on Friday. The stock had a trading volume of 74,957 shares, compared to its average volume of 99,086. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. First Foundation has a 1 year low of $14.17 and a 1 year high of $19.84. The company has a market capitalization of $730.53, a price-to-earnings ratio of 20.78, a PEG ratio of 2.02 and a beta of 0.66.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. The company had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $38.83 million. equities research analysts expect that First Foundation will post 0.97 EPS for the current year.

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $19.23, for a total value of $192,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 18.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. OxFORD Asset Management LLP lifted its stake in First Foundation by 5.0% in the 2nd quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock worth $265,000 after purchasing an additional 772 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in First Foundation by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock worth $362,000 after purchasing an additional 1,165 shares in the last quarter. Nationwide Fund Advisors lifted its stake in First Foundation by 8.3% in the 2nd quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock worth $319,000 after purchasing an additional 1,498 shares in the last quarter. Voya Investment Management LLC lifted its stake in First Foundation by 9.0% in the 2nd quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock worth $349,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of First Foundation by 7.2% during the 2nd quarter. Rhumbline Advisers now owns 30,655 shares of the bank’s stock valued at $504,000 after buying an additional 2,062 shares during the period. 50.28% of the stock is currently owned by institutional investors and hedge funds.

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First Foundation Company Profile

First Foundation Inc is a financial services holding company that 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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