First Foundation (NASDAQ:FFWM) Downgraded by Stephens

First Foundation (NASDAQ:FFWM) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports.

Several other brokerages have also issued reports on FFWM. StockNews.com upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wedbush reiterated a “neutral” rating and issued a $7.00 price target on shares of First Foundation in a research note on Wednesday, May 22nd. Raymond James lowered shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday. Finally, DA Davidson upgraded shares of First Foundation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $9.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, First Foundation currently has an average rating of “Hold” and a consensus target price of $8.00.

First Foundation Trading Down 23.9 %

Shares of NASDAQ:FFWM opened at $5.00 on Wednesday. First Foundation has a 12 month low of $3.69 and a 12 month high of $11.47. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.84. The company’s fifty day simple moving average is $5.79 and its 200 day simple moving average is $7.44. The firm has a market cap of $282.56 million, a price-to-earnings ratio of -1.37 and a beta of 1.34.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. First Foundation had a negative net margin of 32.44% and a positive return on equity of 1.11%. The business had revenue of $51.07 million for the quarter, compared to analyst estimates of $58.93 million. As a group, research analysts forecast that First Foundation will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FFWM. Riverview Trust Co bought a new position in shares of First Foundation in the 1st quarter valued at about $25,000. Caxton Associates LP bought a new stake in shares of First Foundation during the 1st quarter worth about $123,000. Quadrature Capital Ltd bought a new stake in shares of First Foundation during the 4th quarter worth about $126,000. Boston Partners bought a new stake in shares of First Foundation during the 1st quarter worth about $128,000. Finally, Diversified Trust Co boosted its holdings in shares of First Foundation by 8.5% during the 4th quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock worth $135,000 after buying an additional 1,089 shares during the period. Institutional investors own 73.10% of the company’s stock.

About First Foundation

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.