First Foundation (NASDAQ:FFWM) Downgraded to “Sell” Rating by StockNews.com

First Foundation (NASDAQ:FFWM) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Separately, Piper Sandler cut their price objective on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, First Foundation presently has an average rating of “Hold” and a consensus target price of $6.75.

First Foundation Trading Down 0.6 %

NASDAQ:FFWM opened at $5.30 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The company’s 50-day simple moving average is $4.92 and its 200 day simple moving average is $6.00. First Foundation has a one year low of $4.42 and a one year high of $8.52. The firm has a market capitalization of $436.65 million, a P/E ratio of -3.96 and a beta of 1.01.

Hedge Funds Weigh In On First Foundation

A number of institutional investors and hedge funds have recently modified their holdings of FFWM. Cloud Capital Management LLC purchased a new position in shares of First Foundation during the 1st quarter worth $25,000. GAMMA Investing LLC boosted its stake in First Foundation by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 5,039 shares of the bank’s stock worth $26,000 after purchasing an additional 2,387 shares during the period. Millstone Evans Group LLC bought a new stake in First Foundation in the 4th quarter valued at $30,000. Farther Finance Advisors LLC lifted its position in shares of First Foundation by 665.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after buying an additional 4,424 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of First Foundation during the 4th quarter valued at approximately $48,000. 73.10% of the stock is currently owned by hedge funds and other 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.