First Foundation (FFWM) Given a $19.00 Price Target at B. Riley

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B. Riley set a $19.00 price target on First Foundation (NASDAQ:FFWM) in a research note released on Friday morning. The firm currently has a buy rating on the bank’s stock. B. Riley also issued estimates for First Foundation’s Q4 2018 earnings at $0.25 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.34 EPS, FY2019 earnings at $1.25 EPS, Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.34 EPS, Q3 2020 earnings at $0.37 EPS and FY2020 earnings at $1.40 EPS.

A number of other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of First Foundation from a strong sell rating to a sell rating in a research report on Thursday, September 6th. Piper Jaffray Companies set a $16.00 price target on shares of First Foundation and gave the stock a hold rating in a research report on Monday, July 30th. Sandler O’Neill downgraded shares of First Foundation from a buy rating to a hold rating and set a $21.50 price objective on the stock. in a research report on Tuesday, July 31st. BidaskClub downgraded shares of First Foundation from a hold rating to a sell rating in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of First Foundation from a hold rating to a strong sell rating in a research report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. First Foundation has an average rating of Hold and an average price target of $20.08.

Shares of First Foundation stock traded down $0.26 during trading hours on Friday, reaching $14.98. The company’s stock had a trading volume of 597,029 shares, compared to its average volume of 203,941. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.00 and a current ratio of 1.13. First Foundation has a one year low of $14.24 and a one year high of $20.43. The company has a market cap of $693.48 million, a P/E ratio of 15.44, a PEG ratio of 2.24 and a beta of 0.60.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Monday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.06). First Foundation had a return on equity of 9.51% and a net margin of 12.87%. The business had revenue of $43.24 million during the quarter, compared to the consensus estimate of $45.38 million. As a group, sell-side analysts predict that First Foundation will post 1 earnings per share for the current year.

In related news, Chairman Ulrich E. Keller, Jr. sold 9,400 shares of First Foundation stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $17.01, for a total value of $159,894.00. Following the sale, the chairman now directly owns 20,000 shares in the company, valued at approximately $340,200. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James G. Brakke acquired 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was purchased at an average price of $15.92 per share, for a total transaction of $87,560.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,900 shares of company stock worth $224,822. 14.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of FFWM. Wells Fargo & Company MN lifted its position in First Foundation by 71.9% in the 1st quarter. Wells Fargo & Company MN now owns 182,466 shares of the bank’s stock valued at $3,383,000 after purchasing an additional 76,344 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of First Foundation by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 138,406 shares of the bank’s stock worth $2,567,000 after buying an additional 10,796 shares in the last quarter. Northern Trust Corp raised its position in shares of First Foundation by 2.9% during the 1st quarter. Northern Trust Corp now owns 337,622 shares of the bank’s stock worth $6,260,000 after buying an additional 9,505 shares in the last quarter. BlackRock Inc. raised its position in shares of First Foundation by 0.6% during the 1st quarter. BlackRock Inc. now owns 1,621,607 shares of the bank’s stock worth $30,063,000 after buying an additional 9,902 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of First Foundation by 7.3% during the 1st quarter. JPMorgan Chase & Co. now owns 123,685 shares of the bank’s stock worth $2,293,000 after buying an additional 8,467 shares in the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.

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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