Brokerages Set First Foundation Inc (NASDAQ:FFWM) Target Price at $18.00

Shares of First Foundation Inc (NASDAQ:FFWM) have received an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.00.

FFWM has been the topic of a number of recent analyst reports. BidaskClub raised shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Zacks Investment Research cut shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, ValuEngine raised shares of First Foundation from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th.

FFWM traded up $0.49 during trading on Tuesday, reaching $14.55. 175,700 shares of the company’s stock were exchanged, compared to its average volume of 142,091. The company’s fifty day moving average price is $14.16 and its 200-day moving average price is $14.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 1.10. First Foundation has a fifty-two week low of $11.79 and a fifty-two week high of $17.04. The firm has a market capitalization of $627.59 million, a PE ratio of 12.02, a P/E/G ratio of 1.65 and a beta of 0.84.



First Foundation (NASDAQ:FFWM) last released its earnings results on Wednesday, July 24th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. First Foundation had a net margin of 18.97% and a return on equity of 9.35%. The firm had revenue of $51.02 million during the quarter, compared to analyst estimates of $50.43 million. Research analysts forecast that First Foundation will post 1.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.05 per share. The ex-dividend date is Friday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. First Foundation’s dividend payout ratio is 17.09%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of First Foundation by 6.6% during the first quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock worth $54,289,000 after purchasing an additional 247,100 shares in the last quarter. BlackRock Inc. boosted its position in shares of First Foundation by 1.9% during the second quarter. BlackRock Inc. now owns 2,645,975 shares of the bank’s stock worth $35,562,000 after purchasing an additional 49,648 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of First Foundation by 1.4% during the second quarter. Vanguard Group Inc. now owns 1,884,703 shares of the bank’s stock worth $25,331,000 after purchasing an additional 25,392 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Foundation by 25.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,366 shares of the bank’s stock worth $20,606,000 after purchasing an additional 321,622 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its position in shares of First Foundation by 6.2% during the second quarter. Banc Funds Co. LLC now owns 1,439,601 shares of the bank’s stock worth $19,348,000 after purchasing an additional 83,991 shares in the last quarter. 60.84% of the stock is currently owned by institutional investors.

About First Foundation

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. 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 certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

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