First Foundation (FFWM) Upgraded at BidaskClub

BidaskClub upgraded shares of First Foundation (NASDAQ:FFWM) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded First Foundation from a hold rating to a buy rating and set a $16.00 target price on the stock in a research report on Thursday, January 10th. ValuEngine downgraded First Foundation from a sell rating to a strong sell rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $19.08.

NASDAQ FFWM opened at $14.09 on Tuesday. First Foundation has a twelve month low of $11.79 and a twelve month high of $20.43. The stock has a market cap of $619.91 million, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.83. The company has a current ratio of 1.06, a quick ratio of 0.95 and a debt-to-equity ratio of 1.27.

First Foundation (NASDAQ:FFWM) last released its earnings results on Wednesday, January 30th. The bank reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. First Foundation had a return on equity of 9.82% and a net margin of 17.67%. The firm had revenue of $50.07 million for the quarter, compared to the consensus estimate of $51.61 million. On average, equities analysts anticipate that First Foundation will post 1.25 EPS for the current year.

The company also recently disclosed a special dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 28th. First Foundation’s dividend payout ratio (DPR) is 17.09%.

Several institutional investors have recently added to or reduced their stakes in FFWM. Bank of New York Mellon Corp raised its holdings in shares of First Foundation by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 173,955 shares of the bank’s stock worth $2,717,000 after purchasing an additional 8,885 shares during the period. BlackRock Inc. raised its holdings in shares of First Foundation by 24.9% in the 3rd quarter. BlackRock Inc. now owns 2,466,189 shares of the bank’s stock worth $38,523,000 after purchasing an additional 491,421 shares during the period. American International Group Inc. raised its holdings in shares of First Foundation by 15.7% in the 3rd quarter. American International Group Inc. now owns 25,275 shares of the bank’s stock worth $395,000 after purchasing an additional 3,428 shares during the period. FMR LLC raised its holdings in shares of First Foundation by 0.6% in the 3rd quarter. FMR LLC now owns 3,991,293 shares of the bank’s stock worth $62,344,000 after purchasing an additional 22,879 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of First Foundation in the 3rd quarter worth about $431,000. Institutional investors own 60.92% 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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Analyst Recommendations for First Foundation (NASDAQ:FFWM)

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