First Foundation Inc (FFWM) Receives Consensus Recommendation of “Buy” from Analysts

First Foundation Inc (NASDAQ:FFWM) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.75.

FFWM has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 9th. BidaskClub upgraded shares of First Foundation from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 24th. TheStreet upgraded shares of First Foundation from a “c+” rating to a “b” rating in a report on Monday, March 19th. Finally, Sandler O’Neill restated a “buy” rating on shares of First Foundation in a report on Thursday, March 29th.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $18.24, for a total transaction of $182,400.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at approximately $364,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott F. Kavanaugh sold 4,650 shares of the stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $19.33, for a total transaction of $89,884.50. Following the transaction, the chief executive officer now owns 70,000 shares in the company, valued at $1,353,100. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,500 shares of company stock worth $1,792,845. Insiders own 18.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in FFWM. Thompson Siegel & Walmsley LLC purchased a new position in shares of First Foundation during the 1st quarter worth about $10,667,000. Russell Investments Group Ltd. lifted its holdings in shares of First Foundation by 23.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,213,488 shares of the bank’s stock worth $22,499,000 after acquiring an additional 231,698 shares during the period. Banc Funds Co. LLC raised its holdings in First Foundation by 25.2% in the fourth quarter. Banc Funds Co. LLC now owns 1,125,099 shares of the bank’s stock valued at $20,859,000 after buying an additional 226,326 shares during the period. Dimensional Fund Advisors LP raised its holdings in First Foundation by 33.4% in the first quarter. Dimensional Fund Advisors LP now owns 718,910 shares of the bank’s stock valued at $13,329,000 after buying an additional 179,835 shares during the period. Finally, Basswood Capital Management L.L.C. raised its holdings in First Foundation by 6.0% in the fourth quarter. Basswood Capital Management L.L.C. now owns 2,072,115 shares of the bank’s stock valued at $38,417,000 after buying an additional 118,108 shares during the period. Institutional investors and hedge funds own 60.42% of the company’s stock.

First Foundation traded up $0.06, reaching $20.17, on Thursday, Marketbeat.com reports. The stock had a trading volume of 304,854 shares, compared to its average volume of 153,095. The firm has a market cap of $778.83 million, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 1.87. First Foundation has a 12-month low of $15.88 and a 12-month high of $20.43.

First Foundation (NASDAQ:FFWM) last released its earnings results on Tuesday, April 24th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). The firm had revenue of $43.25 million during the quarter, compared to analysts’ expectations of $43.15 million. First Foundation had a net margin of 16.05% and a return on equity of 10.22%. equities research analysts forecast that First Foundation will post 1.19 earnings per share for the current fiscal year.

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.

Analyst Recommendations for First Foundation (NASDAQ:FFWM)

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