First Foundation’s (FFWM) Hold Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reiterated their hold rating on shares of First Foundation (NASDAQ:FFWM) in a research note released on Tuesday. They currently have a $20.00 target price on the bank’s stock.

Other analysts have also issued research reports about the company. TheStreet upgraded First Foundation from a c- rating to a b- rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded First Foundation from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Friday, October 27th. Finally, ValuEngine lowered First Foundation from a buy rating to a hold rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $20.38.

Shares of First Foundation (NASDAQ FFWM) traded up $0.22 during midday trading on Tuesday, hitting $19.16. The company had a trading volume of 170,477 shares, compared to its average volume of 129,969. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $723.66, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. First Foundation has a 12-month low of $13.64 and a 12-month high of $19.84.

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

In related news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $368,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.50% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of FFWM. Kennedy Capital Management Inc. bought a new position in First Foundation in the second quarter worth approximately $4,926,000. JPMorgan Chase & Co. raised its stake in First Foundation by 531.7% in the second quarter. JPMorgan Chase & Co. now owns 112,998 shares of the bank’s stock worth $1,857,000 after buying an additional 95,110 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in First Foundation in the third quarter worth approximately $1,671,000. Dimensional Fund Advisors LP raised its stake in First Foundation by 21.7% in the third quarter. Dimensional Fund Advisors LP now owns 442,734 shares of the bank’s stock worth $7,921,000 after buying an additional 78,969 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in First Foundation by 5.7% in the second quarter. Vanguard Group Inc. now owns 1,152,829 shares of the bank’s stock worth $18,941,000 after buying an additional 62,230 shares in the last quarter. 50.28% of the stock is owned by institutional investors.

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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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