Foundation capital

B. Riley raises First Foundation (NASDAQ:FFWM) price target to $23.00

First Foundation (NASDAQ: FFWM – Get Appraisal) had its price target raised by stock analysts B. Riley from $21.00 to $23.00 in a note to investors on Wednesday, reports The Fly. B. Riley’s price target would point to a potential upside of 13.47% from the stock’s previous close.

A number of other analysts have also weighed in on FFWM recently. StockNews.com launched coverage on First Foundation stocks in a research report on Thursday, March 31. They set a “hold” rating for the company. Raymond James lowered his price target on First Foundation shares from $28.00 to $25.00 and set an “outperform” rating for the company in a Thursday, July 7 research report.

First Core Share Return

First Foundation shares opened at $20.27 on Wednesday. The stock has a market capitalization of $1.15 billion, a price-earnings ratio of 8.21 and a beta of 1.21. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt ratio of 0.30. First Foundation has a 12-month low of $18.31 and a 12-month high of $29.41. The company’s fifty-day moving average is $20.86 and its 200-day moving average is $23.45.

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First Foundation (NASDAQ:FFWM – Get Rating) last released its quarterly results on Tuesday, April 26. The bank reported earnings per share of $0.55 for the quarter, beating the consensus estimate of $0.51 by $0.04. The company posted revenue of $89.92 million in the quarter, compared to analysts’ expectations of $89.18 million. First Foundation had a return on equity of 13.80% and a net margin of 34.58%. In the same quarter a year earlier, the company posted earnings per share of $0.50. Sell-side analysts expect First Foundation to post EPS of 2.19 for the current year.

Hedge funds weigh on First Foundation

A number of institutional investors and hedge funds have recently changed their holdings in the company. BlackRock Inc. increased its position in First Foundation shares by 22.1% during the 1st quarter. BlackRock Inc. now owns 3,817,772 shares of the bank valued at $92,735,000 after acquiring an additional 691,494 shares during the period. Vanguard Group Inc. increased its equity stake in First Foundation by 26.0% during the first quarter. Vanguard Group Inc. now owns 2,506,062 shares of the bank valued at $60,872,000 after purchasing an additional 517,634 shares during the period. GMT Capital Corp increased its position in First Foundation shares by 28.7% during the first quarter. GMT Capital Corp now owns 2,208,381 shares of the bank worth $53,642,000 after buying an additional 492,399 shares last quarter. State Street Corp increased its position in First Foundation shares by 25.0% in the first quarter. State Street Corp now owns 1,341,747 shares of the bank worth $32,591,000 after buying an additional 267,995 shares last quarter. Finally, Jennison Associates LLC increased its stake in First Foundation shares by 2.8% in the 1st quarter. Jennison Associates LLC now owns 1,056,493 shares of the bank valued at $25,662,000 after purchasing an additional 28,510 shares during the period. 60.50% of the shares are currently held by institutional investors.

First Foundation Company Profile

(Get a rating)

First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking 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 promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family 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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