First Foundation’s (NASDAQ:FFWM) Hold Rating Reiterated at Piper Jaffray Companies

First Foundation (NASDAQ:FFWM)‘s stock had its “hold” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a research report issued on Tuesday, January 9th. They presently have a $20.00 price objective on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 3.79% from the stock’s previous close.

A number of other research firms also recently weighed in on FFWM. Zacks Investment Research downgraded First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. TheStreet raised First Foundation from a “c-” rating to a “b-” rating in a research report on Tuesday, October 31st. Finally, ValuEngine downgraded First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $20.38.

Shares of First Foundation (FFWM) traded up $0.36 during mid-day trading on Tuesday, hitting $19.27. The stock had a trading volume of 104,805 shares, compared to its average volume of 125,955. First Foundation has a one year low of $13.64 and a one year high of $19.84. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. The company has a market cap of $732.06, a PE ratio of 20.95, a PEG ratio of 2.02 and a beta of 0.66.

First Foundation (NASDAQ:FFWM) last posted its earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. The business had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.83 million. analysts anticipate that First Foundation will post 0.99 EPS for the current year.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $368,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in First Foundation during the 3rd quarter valued at $117,000. Teton Advisors Inc. acquired a new stake in First Foundation during the 3rd quarter valued at $182,000. Citadel Advisors LLC acquired a new stake in First Foundation during the 3rd quarter valued at $221,000. Marshall Wace North America L.P. acquired a new stake in First Foundation during the 2nd quarter valued at $230,000. Finally, OxFORD Asset Management LLP lifted its holdings in First Foundation by 5.0% during the 2nd quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock valued at $265,000 after purchasing an additional 772 shares during the last quarter. 50.28% of the stock is owned by institutional investors and hedge funds.

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About First Foundation

First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.

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