Home Hedge Funds First Foundation Inc. (NASDAQ:FFWM) Receives Average Recommendation of “Hold” from Brokerages

First Foundation Inc. (NASDAQ:FFWM) Receives Average Recommendation of “Hold” from Brokerages

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First Foundation Inc. (NASDAQ:FFWMGet Rating) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $22.10.

Several equities analysts have commented on the stock. DA Davidson downgraded shares of First Foundation from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Wednesday, October 26th. Piper Sandler lowered their target price on shares of First Foundation to $17.50 in a research note on Tuesday, November 15th. TheStreet downgraded shares of First Foundation from a “b-” rating to a “c+” rating in a research note on Monday, November 14th. StockNews.com initiated coverage on shares of First Foundation in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Raymond James lowered their target price on shares of First Foundation from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th.

First Foundation Stock Performance

NASDAQ:FFWM opened at $14.46 on Friday. The company has a fifty day simple moving average of $15.84 and a two-hundred day simple moving average of $18.74. The company has a market cap of $815.40 million, a price-to-earnings ratio of 6.69 and a beta of 0.99. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.33. First Foundation has a 52 week low of $13.17 and a 52 week high of $28.01.

First Foundation (NASDAQ:FFWMGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The bank reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $99.86 million during the quarter, compared to analyst estimates of $98.00 million. First Foundation had a return on equity of 10.71% and a net margin of 29.45%. As a group, equities analysts anticipate that First Foundation will post 2.04 earnings per share for the current fiscal year.

First Foundation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.44 annualized dividend and a yield of 3.04%. First Foundation’s dividend payout ratio is presently 20.37%.

Insider Buying and Selling at First Foundation

In related news, Director Elizabeth A. Pagliarini acquired 5,471 shares of the firm’s stock in a transaction on Monday, November 28th. The stock was bought at an average price of $13.71 per share, for a total transaction of $75,007.41. Following the completion of the purchase, the director now directly owns 7,143 shares of the company’s stock, valued at approximately $97,930.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Foundation news, Director Elizabeth A. Pagliarini bought 5,471 shares of First Foundation stock in a transaction dated Monday, November 28th. The stock was acquired at an average cost of $13.71 per share, with a total value of $75,007.41. Following the completion of the acquisition, the director now owns 7,143 shares of the company’s stock, valued at $97,930.53. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott F. Kavanaugh bought 7,200 shares of First Foundation stock in a transaction dated Tuesday, November 29th. The stock was acquired at an average cost of $13.84 per share, with a total value of $99,648.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,291,529 shares of the company’s stock, valued at approximately $17,874,761.36. The disclosure for this purchase can be found here. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Foundation

A number of institutional investors and hedge funds have recently made changes to their positions in FFWM. Envestnet Asset Management Inc. raised its holdings in shares of First Foundation by 19.3% in the first quarter. Envestnet Asset Management Inc. now owns 78,604 shares of the bank’s stock valued at $1,909,000 after buying an additional 12,689 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in First Foundation during the first quarter worth about $514,000. Advisor Group Holdings Inc. raised its holdings in First Foundation by 10.7% during the first quarter. Advisor Group Holdings Inc. now owns 59,947 shares of the bank’s stock worth $1,456,000 after purchasing an additional 5,806 shares in the last quarter. New York State Common Retirement Fund raised its holdings in First Foundation by 41.9% during the first quarter. New York State Common Retirement Fund now owns 62,918 shares of the bank’s stock worth $1,528,000 after purchasing an additional 18,568 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in First Foundation during the first quarter worth about $238,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

About First Foundation

(Get Rating)

First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. 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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and 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.

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