Foundation research

First Foundation (NASDAQ:FFWM) Rating Downgraded to Neutral at B. Riley

First Foundation (NASDAQ: FFWM – Get a rating) was downgraded by investment analysts B. Riley from a “buy” rating to a “neutral” rating in a research report delivered to clients and investors on Monday, Briefing.com reports. They currently have a $21.00 price target on the bank’s stock. B. Riley’s price target indicates a potential upside of 4.74% from the current stock price.

A number of other research companies have also recently published reports on the FFWM. StockNews.com began covering First Foundation stocks in a research report on Thursday, March 31. They set a “hold” rating for the company. Raymond James dropped his price target on First Foundation shares from $28.00 to $25.00 and set an “outperform” rating for the company in a report Thursday.

First Foundation shares opened at $20.05 on Monday. First Foundation has a 1-year minimum of $19.76 and a 1-year maximum of $29.41. The company has a 50-day moving average of $21.39 and a 200-day moving average of $23.95. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt ratio of 0.30. The company has a market capitalization of $1.13 billion, a PE ratio of 8.12 and a beta of 1.21.

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First Foundation (NASDAQ: FFWM – Get a rating) last released its quarterly earnings data 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. First Foundation had a return on equity of 13.80% and a net margin of 34.58%. The company posted revenue of $89.92 million for the quarter, versus analyst estimates of $89.18 million. During the same period last year, the company posted earnings per share of $0.50. Research analysts expect First Foundation to post earnings per share of 2.26 for the current year.

Several hedge funds have recently changed their holdings in the company. UBS Asset Management Americas Inc. increased its position in First Foundation shares by 3.0% during the third quarter. UBS Asset Management Americas Inc. now owns 20,424 shares of the bank worth $537,000 after acquiring 603 additional shares in the last quarter. Western Financial Corporation increased its position in First Foundation by 38.3% during the fourth quarter. Western Financial Corporation now owns 11,000 shares of the bank valued at $273,000 after buying 3,046 additional shares during the period. Andrew Hill Investment Advisors Inc. bought a new position in First Foundation during Q4 worth approximately $48,000. Brookmont Capital Management increased its position in First Foundation shares by 6.7% in the fourth quarter. Brookmont Capital Management now owns 8,361 shares of the bank worth $208,000 after purchasing an additional 526 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new equity stake in First Foundation in Q4 worth $9,476,000. 60.50% of the shares are held by institutional investors.

Company Profile First Foundation (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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