Stephens Raises First Foundation (NASDAQ:FFWM) Price Target to $7.00

First Foundation (NASDAQ:FFWM) had its price target upped by Stephens from $6.00 to $7.00 in a report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

FFWM has been the subject of several other research reports. Wedbush decreased their target price on First Foundation from $6.00 to $5.00 and set a neutral rating for the company in a research note on Wednesday, July 3rd. Piper Sandler reissued a neutral rating and issued a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. Raymond James cut First Foundation from a strong-buy rating to a market perform rating in a report on Wednesday, July 3rd. StockNews.com raised First Foundation from a sell rating to a hold rating in a report on Friday, April 26th. Finally, DA Davidson raised First Foundation from a neutral rating to a buy rating and increased their target price for the stock from $8.00 to $9.00 in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, First Foundation currently has a consensus rating of Hold and an average target price of $7.80.

First Foundation Stock Performance

FFWM opened at $6.92 on Friday. The stock has a 50-day moving average of $5.94 and a 200-day moving average of $7.02. First Foundation has a 52-week low of $4.41 and a 52-week high of $11.47. The company has a market cap of $391.05 million, a PE ratio of -1.89 and a beta of 1.34. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.07 and a current ratio of 1.07.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. The firm had revenue of $164.57 million during the quarter, compared to the consensus estimate of $54.23 million. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, equities research analysts forecast that First Foundation will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Foundation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Modera Wealth Management LLC acquired a new stake in First Foundation during the 2nd quarter valued at $1,870,000. Bank of New York Mellon Corp increased its holdings in First Foundation by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 188,112 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 15,190 shares in the last quarter. SG Americas Securities LLC acquired a new stake in First Foundation during the 2nd quarter valued at $162,000. Simplicity Wealth LLC acquired a new stake in First Foundation during the 2nd quarter valued at $196,000. Finally, Boston Partners acquired a new stake in First Foundation during the 1st quarter valued at $128,000. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Company Profile

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.