First Foundation (NASDAQ:FFWM) PT Lowered to $7.00 at Wedbush

First Foundation (NASDAQ:FFWM) had its target price reduced by Wedbush from $8.00 to $7.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock. Wedbush also issued estimates for First Foundation’s Q2 2024 earnings at $0.04 EPS, FY2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.17 EPS and Q4 2025 earnings at $0.30 EPS.

Separately, Raymond James upgraded First Foundation from an outperform rating to a strong-buy rating and lifted their price objective for the stock from $9.50 to $12.00 in a report on Friday, January 5th.

First Foundation Stock Down 1.8 %

FFWM opened at $5.97 on Friday. The company has a market cap of $337.36 million, a P/E ratio of -1.63 and a beta of 1.23. The business’s 50-day moving average price is $7.29 and its 200-day moving average price is $7.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.52. First Foundation has a 12 month low of $3.69 and a 12 month high of $11.47.

First Foundation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.67%. First Foundation’s dividend payout ratio is presently -1.09%.

Insider Activity at First Foundation

In related news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $8.16, for a total transaction of $204,000.00. Following the transaction, the chairman now owns 1,230,622 shares in the company, valued at approximately $10,041,875.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in shares of First Foundation during the 1st quarter worth approximately $25,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of First Foundation during the 3rd quarter worth approximately $120,000. Quadrature Capital Ltd purchased a new position in shares of First Foundation during the 4th quarter worth approximately $126,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of First Foundation by 77.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,710 shares of the bank’s stock worth $132,000 after acquiring an additional 9,463 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of First Foundation by 8.5% during the 4th quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock worth $135,000 after acquiring an additional 1,089 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.