First Foundation (NASDAQ:FFWM – Get Rating) had its price target lowered by stock analysts Raymond James from $28.00 to $25.00 in a research note released Thursday to investors, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s shares. Raymond James’ price target suggests a potential upside of 24.69% from the stock’s previous close.
A number of other research analysts have also recently published reports on the FFWM. B. Riley cut his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 report. StockNews.com began covering First Foundation stocks in a report on Thursday, March 31. They have placed a “holding” rating on the stock.
Shares of NASDAQ FFWM opened at $20.05 on Thursday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 8.12 and a beta of 1.21. The company has a 50-day moving average price of $21.39 and a 200-day moving average price of $23.96. First Foundation has a 1-year minimum of $19.76 and a 1-year maximum of $29.41. The company has a debt ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.91.
First Foundation (NASDAQ:FFWM – Get Rating) last released its quarterly earnings data on Tuesday, April 26. The bank reported earnings per share (EPS) of $0.55 for the quarter, beating consensus analyst estimates of $0.51 by $0.04. The company posted revenue of $89.92 million in the quarter, compared to $89.18 million expected by analysts. First Foundation had a net margin of 34.58% and a return on equity of 13.80%. During the same period last year, the company earned earnings per share of $0.50. As a group, equity research analysts expect First Foundation to post earnings per share of 2.26 for the current fiscal year.
A number of institutional investors have recently increased or reduced their stake in the stock. BlackRock Inc. increased its stake in First Foundation by 22.1% during the first quarter. BlackRock Inc. now owns 3,817,772 shares of the bank worth $92,735,000 after purchasing an additional 691,494 shares in the last quarter. Vanguard Group Inc. increased its stake in First Foundation by 26.0% in the first quarter. Vanguard Group Inc. now owns 2,506,062 shares of the bank valued at $60,872,000 after acquiring an additional 517,634 shares in the last quarter. GMT Capital Corp increased its stake in First Foundation by 28.7% in the first quarter. GMT Capital Corp now owns 2,208,381 shares of the bank valued at $53,642,000 after acquiring an additional 492,399 shares in the last quarter. State Street Corp increased its stake in First Foundation by 25.0% in the first quarter. State Street Corp now owns 1,341,747 shares of the bank valued at $32,591,000 after acquiring an additional 267,995 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in First Foundation by 2.8% in the first quarter. Jennison Associates LLC now owns 1,056,493 shares of the bank valued at $25,662,000 after acquiring 28,510 additional shares in the last quarter. Institutional investors and hedge funds own 60.50% of the company’s shares.
About First Foundation (Get an assessment)
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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