First Foundation (NASDAQ:FFWM) Downgraded by TheStreet

TheStreet cut shares of First Foundation (NASDAQ:FFWMGet Rating) from a b- rating to a c+ rating in a report issued on Monday, TheStreetRatingsTable reports.

Other analysts also recently issued reports about the stock. Piper Sandler reduced their target price on shares of First Foundation to $17.50 in a research report on Tuesday. DA Davidson downgraded First Foundation from a buy rating to a neutral rating and set a $18.00 price objective for the company. in a report on Wednesday, October 26th. Raymond James dropped their price target on First Foundation from $23.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, October 26th. StockNews.com assumed coverage on First Foundation in a research note on Wednesday, October 12th. They set a hold rating for the company. Finally, B. Riley increased their price target on First Foundation from $21.00 to $23.00 in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $22.10.

First Foundation Price Performance

Shares of NASDAQ:FFWM opened at $14.49 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.09 and a quick ratio of 1.09. First Foundation has a one year low of $14.05 and a one year high of $28.64. The firm has a 50 day simple moving average of $17.58 and a 200 day simple moving average of $19.64. The company has a market cap of $817.06 million, a price-to-earnings ratio of 6.71 and a beta of 1.03.

First Foundation (NASDAQ:FFWMGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The bank reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $98.00 million. First Foundation had a net margin of 29.45% and a return on equity of 10.71%. Research analysts predict that First Foundation will post 2.04 earnings per share for the current fiscal year.

First Foundation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Monday, November 7th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 4th. First Foundation’s dividend payout ratio is presently 20.37%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of First Foundation by 79.5% during the 2nd quarter. US Bancorp DE now owns 1,712 shares of the bank’s stock worth $35,000 after acquiring an additional 758 shares during the period. GMT Capital Corp grew its stake in First Foundation by 39.7% during the second quarter. GMT Capital Corp now owns 3,085,494 shares of the bank’s stock valued at $63,191,000 after acquiring an additional 877,113 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in First Foundation during the first quarter valued at approximately $1,474,000. Assenagon Asset Management S.A. lifted its holdings in shares of First Foundation by 61.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 188,216 shares of the bank’s stock worth $3,855,000 after acquiring an additional 71,951 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in First Foundation during the 1st quarter valued at $514,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Company Profile

(Get Rating)

First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. 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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and 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.

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