First Foundation (FFWM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of First Foundation (NASDAQ:FFWM) from a strong sell rating to a hold rating in a research note released on Tuesday.

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. “

Other equities research analysts have also issued reports about the company. B. Riley set a $19.00 price objective on First Foundation and gave the stock a buy rating in a research report on Friday, October 12th. TheStreet lowered First Foundation from a b rating to a c+ rating in a research report on Friday, August 10th. BidaskClub lowered First Foundation from a buy rating to a hold rating in a research report on Wednesday, June 27th. Sandler O’Neill lowered First Foundation from a buy rating to a hold rating and set a $21.50 price objective on the stock. in a research report on Tuesday, July 31st. Finally, Piper Jaffray Companies set a $16.00 price objective on First Foundation and gave the stock a hold rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. First Foundation presently has an average rating of Hold and a consensus target price of $20.08.

FFWM opened at $14.78 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.00 and a current ratio of 1.13. First Foundation has a 1 year low of $14.24 and a 1 year high of $20.43. The company has a market cap of $664.62 million, a P/E ratio of 14.53, a P/E/G ratio of 2.12 and a beta of 0.60.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Monday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). First Foundation had a return on equity of 9.51% and a net margin of 12.87%. The company had revenue of $43.24 million for the quarter, compared to the consensus estimate of $45.38 million. Research analysts forecast that First Foundation will post 1.01 earnings per share for the current fiscal year.

In other news, Director James G. Brakke bought 5,500 shares of the stock in a transaction dated Wednesday, August 29th. The stock was bought at an average price of $15.92 per share, for a total transaction of $87,560.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 9,400 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $17.01, for a total value of $159,894.00. Following the completion of the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $340,200. The disclosure for this sale can be found here. Over the last quarter, insiders bought 13,900 shares of company stock worth $224,822. Corporate insiders own 14.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of First Foundation in the 2nd quarter valued at approximately $254,000. GSA Capital Partners LLP purchased a new position in shares of First Foundation in the 2nd quarter valued at approximately $260,000. Quantitative Systematic Strategies LLC purchased a new position in shares of First Foundation in the 2nd quarter valued at approximately $273,000. Wedbush Securities Inc. purchased a new position in shares of First Foundation in the 2nd quarter valued at approximately $274,000. Finally, Creative Planning purchased a new position in shares of First Foundation in the 2nd quarter valued at approximately $358,000. Institutional investors own 55.82% of the company’s stock.

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.

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