TheStreet Upgrades First Foundation (FFWM) to “B-“

First Foundation (NASDAQ:FFWM) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued on Thursday.

Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine upgraded shares of First Foundation from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. Zacks Investment Research upgraded shares of First Foundation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. B. Riley set a $19.00 target price on shares of First Foundation and gave the stock a “buy” rating in a research report on Friday, October 12th. Finally, Raymond James lowered their target price on shares of First Foundation from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, September 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $19.90.

FFWM traded down $0.03 on Thursday, hitting $16.39. 93,867 shares of the company were exchanged, compared to its average volume of 269,512. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 1.53. First Foundation has a fifty-two week low of $14.00 and a fifty-two week high of $20.43. The firm has a market capitalization of $727.67 million, a P/E ratio of 15.04, a PEG ratio of 2.22 and a beta of 0.47.

First Foundation (NASDAQ:FFWM) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. First Foundation had a net margin of 13.75% and a return on equity of 10.12%. The company had revenue of $54.83 million for the quarter, compared to analyst estimates of $49.89 million. Analysts predict that First Foundation will post 1.06 EPS for the current year.

In other First Foundation news, Director Max Briggs purchased 7,400 shares of First Foundation stock in a transaction on Friday, September 14th. The shares were bought at an average price of $16.38 per share, with a total value of $121,212.00. Following the completion of the acquisition, the director now directly owns 8,510 shares of the company’s stock, valued at $139,393.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James G. Brakke purchased 5,500 shares of First Foundation stock in a transaction on Wednesday, August 29th. The stock was acquired at an average cost of $15.92 per share, for a total transaction of $87,560.00. The disclosure for this purchase can be found here. Insiders acquired 13,900 shares of company stock worth $224,822 in the last ninety days. Insiders own 14.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of First Foundation in the second quarter valued at about $254,000. GSA Capital Partners LLP purchased a new position in shares of First Foundation during the second quarter valued at approximately $260,000. Quantitative Systematic Strategies LLC purchased a new position in shares of First Foundation during the second quarter valued at approximately $273,000. Wedbush Securities Inc. purchased a new position in shares of First Foundation during the second quarter valued at approximately $274,000. Finally, Creative Planning purchased a new position in shares of First Foundation during the second quarter valued at approximately $358,000. 55.82% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for First Foundation (NASDAQ:FFWM)

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