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First Foundation (NASDAQ:FFWM) Downgraded to Hold at BidaskClub

Last updated on Friday, July 10, 2020 | 2020 MarketBeat

First Foundation (NASDAQ:FFWM) was downgraded by equities researchers at BidaskClub from a "buy" rating to a "hold" rating in a research note issued on Friday, BidAskClub reports.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded First Foundation from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research report on Monday, June 29th. ValuEngine lowered First Foundation from a "sell" rating to a "strong sell" rating in a research report on Monday, June 1st. Piper Sandler upgraded First Foundation from a "neutral" rating to an "overweight" rating and set a $15.00 target price for the company in a research report on Friday, April 24th. Raymond James lifted their target price on First Foundation from $13.00 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 10th. Finally, Wedbush began coverage on First Foundation in a research report on Monday, March 23rd. They set an "outperform" rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. The stock has a consensus rating of "Buy" and a consensus target price of $16.60.

FFWM stock opened at $15.03 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.27. First Foundation has a 52-week low of $8.01 and a 52-week high of $17.64. The stock's 50 day moving average is $15.29 and its two-hundred day moving average is $14.42. The company has a market capitalization of $682.32 million, a PE ratio of 11.56 and a beta of 1.50.

First Foundation (NASDAQ:FFWM) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $55.54 million during the quarter, compared to analyst estimates of $53.81 million. First Foundation had a return on equity of 9.59% and a net margin of 19.76%. As a group, sell-side analysts anticipate that First Foundation will post 1.57 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new position in First Foundation during the 2nd quarter valued at approximately $171,000. Advisor Group Holdings Inc. acquired a new position in First Foundation during the 1st quarter worth $110,000. AQR Capital Management LLC bought a new position in shares of First Foundation in the first quarter worth $437,000. Engineers Gate Manager LP acquired a new position in shares of First Foundation during the first quarter valued at $171,000. Finally, Invesco Ltd. raised its stake in shares of First Foundation by 24.5% during the first quarter. Invesco Ltd. now owns 51,334 shares of the bank's stock valued at $525,000 after purchasing an additional 10,097 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

First Foundation Company Profile

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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