First Foundation (NASDAQ: FFWM – Get a rating) saw its target price lowered by Piper Sandler research analysts to $24.00 in a report on Friday, Target Stock Advisor reports. Piper Sandler’s target price would indicate a potential upside of 32.30% from the current stock price.
Other equity research analysts have also recently published research reports on the company. B. Riley raised his price target on First Foundation from $21.00 to $23.00 in a Wednesday July 27 research note. Raymond James lowered his price target on First Foundation from $28.00 to $25.00 and set an “outperform” rating on the stock in a Thursday July 7 research note.
First foundation stock down 0.7%
Shares of First Foundation traded down $0.12 on Friday, hitting $18.14. 249,884 shares of the company were traded, against an average volume of 253,115. First Foundation has a one-year low of $17.98 and a one-year high of $29.41. The company has a market capitalization of $1.02 billion, a price-earnings ratio of 7.31 and a beta of 1.17. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt ratio of 0.45. The company has a 50-day moving average of $19.88 and a 200-day moving average of $21.39.
First Foundation (NASDAQ: FFWM – Get a rating) last reported quarterly earnings data on Tuesday, July 26. The bank reported earnings per share (EPS) of $0.59 for the quarter, beating analyst consensus estimates of $0.52 by $0.07. First Foundation had a return on equity of 12.47% and a net margin of 33.93%. On average, equity research analysts expect First Foundation to post earnings per share of 2.19 for the current year.
Institutional entries and exits
Several large investors have recently increased or reduced their stake in FFWM. GMT Capital Corp increased its position in First Foundation by 39.7% during the second quarter. GMT Capital Corp now owns 3,085,494 shares of the bank worth $63,191,000 after purchasing an additional 877,113 shares during the period. BlackRock Inc. increased its equity stake in First Foundation by 22.1% in Q1. BlackRock Inc. now owns 3,817,772 shares of the bank worth $92,735,000 after purchasing an additional 691,494 shares last quarter. Vanguard Group Inc. increased its holdings of First Foundation stock by 26.0% in Q1. Vanguard Group Inc. now owns 2,506,062 shares of the bank worth $60,872,000 after purchasing an additional 517,634 shares in the last quarter. Principal Financial Group Inc. increased its holdings of First Foundation shares by 32.7% during the second quarter. Principal Financial Group Inc. now owns 1,257,690 shares of the bank worth $25,758,000 after purchasing an additional 309,862 shares last quarter. Finally, Alliancebernstein LP increased its equity stake in First Foundation by 1,087.8% during the 4th quarter. Alliancebernstein LP now owns 332,187 shares of the bank worth $8,258,000 after purchasing an additional 304,221 shares last quarter. Institutional investors hold 69.58% of the company’s shares.
About First Foundation
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 .
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider First Foundation, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and First Foundation wasn’t on the list.
While First Foundation currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here