First Foundation (NASDAQ:FFWM) Upgraded at StockNews.com

StockNews.com upgraded shares of First Foundation (NASDAQ:FFWM) from a sell rating to a hold rating in a report published on Wednesday.

A number of other research firms have also recently weighed in on FFWM. Raymond James cut shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. DA Davidson upgraded First Foundation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Piper Sandler reissued a “neutral” rating and issued a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. Wedbush reduced their price target on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Stephens lowered First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.80.

First Foundation Trading Down 0.3 %

Shares of NASDAQ:FFWM opened at $6.71 on Wednesday. First Foundation has a 12-month low of $4.71 and a 12-month high of $11.47. The company has a market cap of $455.27 million, a PE ratio of -5.99 and a beta of 1.32. The stock has a 50 day moving average of $6.84 and a 200 day moving average of $6.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84.

Institutional Investors Weigh In On First Foundation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new position in shares of First Foundation in the 1st quarter worth approximately $3,819,000. Mendon Capital Advisors Corp increased its position in First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock valued at $4,236,000 after acquiring an additional 381,946 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in shares of First Foundation in the second quarter valued at $1,870,000. Kennedy Capital Management LLC bought a new stake in shares of First Foundation in the 1st quarter worth about $1,731,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of First Foundation during the 2nd quarter worth about $838,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.