First Foundation Inc (FFWM) Receives Average Rating of “Hold” from Brokerages

First Foundation Inc (NASDAQ:FFWM) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.63.

Several research analysts recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $22.00 target price (down from $23.00) on shares of First Foundation in a research report on Thursday, February 1st. BidaskClub raised First Foundation from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet downgraded First Foundation from a “b” rating to a “c+” rating in a research note on Tuesday. Piper Jaffray Companies reiterated a “hold” rating and set a $20.00 price target on shares of First Foundation in a research note on Tuesday, January 9th. Finally, Zacks Investment Research upgraded First Foundation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, October 27th.

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $18.40, for a total transaction of $184,000.00. Following the sale, the chairman now owns 20,000 shares in the company, valued at approximately $368,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Max Briggs sold 5,305 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.11, for a total value of $101,378.55. Following the sale, the director now owns 6,415 shares in the company, valued at approximately $122,590.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,305 shares of company stock worth $664,279. Company insiders own 18.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FFWM. SG Americas Securities LLC purchased a new stake in shares of First Foundation in the third quarter worth about $117,000. Teton Advisors Inc. purchased a new stake in shares of First Foundation in the third quarter worth about $182,000. Teacher Retirement System of Texas purchased a new stake in shares of First Foundation in the fourth quarter worth about $194,000. Wedbush Securities Inc. purchased a new stake in shares of First Foundation in the fourth quarter worth about $210,000. Finally, Citadel Advisors LLC purchased a new stake in shares of First Foundation in the third quarter worth about $221,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Shares of First Foundation (NASDAQ FFWM) traded up $0.53 during trading hours on Friday, reaching $18.16. The company had a trading volume of 213,443 shares, compared to its average volume of 159,344. First Foundation has a 12 month low of $14.67 and a 12 month high of $19.84. The firm has a market cap of $626.59, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.04 and a beta of 0.66. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. First Foundation had a return on equity of 10.92% and a net margin of 15.71%. The company had revenue of $42.60 million for the quarter, compared to analyst estimates of $40.94 million. equities analysts predict that First Foundation will post 1.27 earnings per share for the current fiscal year.

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About First Foundation

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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