First Foundation (NASDAQ:FFWM) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of First Foundation (NASDAQ:FFWM) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Separately, Piper Sandler decreased their price target on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, First Foundation currently has an average rating of “Hold” and a consensus target price of $6.75.

First Foundation Price Performance

Shares of First Foundation stock opened at $4.97 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $4.94 and a 200-day simple moving average of $6.16. The stock has a market capitalization of $408.94 million, a price-to-earnings ratio of -3.71 and a beta of 1.19. First Foundation has a 1-year low of $4.42 and a 1-year high of $8.52.

Institutional Trading of First Foundation

A number of hedge funds have recently bought and sold shares of FFWM. Assenagon Asset Management S.A. acquired a new position in shares of First Foundation during the fourth quarter valued at about $775,000. Geode Capital Management LLC grew its position in First Foundation by 21.3% during the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock worth $8,844,000 after buying an additional 249,237 shares in the last quarter. Barclays PLC increased its stake in First Foundation by 30.0% during the third quarter. Barclays PLC now owns 145,932 shares of the bank’s stock valued at $911,000 after acquiring an additional 33,666 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in First Foundation by 21.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank’s stock valued at $3,814,000 after acquiring an additional 110,323 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of First Foundation by 665.3% in the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after acquiring an additional 4,424 shares during the period. 73.10% of the stock is owned by institutional investors.

About First Foundation

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.