First Foundation (NASDAQ:FFWM) Rating Increased to Sell at StockNews.com

Posted by on Aug 6th, 2023

First Foundation (NASDAQ:FFWM – Get Free Report) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the company. Wedbush raised their price target on First Foundation from $6.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Raymond James dropped their price target on First Foundation from $18.00 to $9.50 and set an “outperform” rating for the company in a research note on Thursday, April 6th. Finally, TheStreet lowered First Foundation from a “c” rating to a “d” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.88.

First Foundation Stock Performance

NASDAQ:FFWM opened at $7.28 on Friday. The firm has a market cap of $410.74 million, a PE ratio of -2.61 and a beta of 1.00. First Foundation has a fifty-two week low of $3.69 and a fifty-two week high of $22.01. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.17 and a current ratio of 1.17. The business has a 50 day moving average price of $4.93 and a 200-day moving average price of $8.12.

Hedge Funds Weigh In On First Foundation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in First Foundation by 10.0% during the fourth quarter. Victory Capital Management Inc. now owns 89,694 shares of the bank’s stock valued at $1,306,000 after buying an additional 8,123 shares during the period. FLC Capital Advisors increased its holdings in shares of First Foundation by 1.6% during the fourth quarter. FLC Capital Advisors now owns 99,074 shares of the bank’s stock valued at $1,420,000 after acquiring an additional 1,518 shares in the last quarter. BHZ Capital Management LP increased its holdings in shares of First Foundation by 1,532.9% during the fourth quarter. BHZ Capital Management LP now owns 202,943 shares of the bank’s stock valued at $2,908,000 after acquiring an additional 190,515 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of First Foundation by 348.6% during the fourth quarter. Lindbrook Capital LLC now owns 2,104 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of First Foundation by 1.7% during the fourth quarter. Swiss National Bank now owns 122,600 shares of the bank’s stock valued at $1,757,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 69.74% of the company’s stock.

About First Foundation

(Get Free Report)

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 bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal 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, and 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.

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