First Foundation’s (FFWM) Hold Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies restated their hold rating on shares of First Foundation (NASDAQ:FFWM) in a research report released on Tuesday. They currently have a $20.00 price target on the bank’s stock.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded First Foundation from a buy rating to a hold rating in a research report on Monday, December 4th. TheStreet raised First Foundation from a c- rating to a b- rating in a research report on Tuesday, October 31st. Finally, ValuEngine downgraded First Foundation from a buy rating to a hold rating in a research report on Monday, October 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. First Foundation currently has a consensus rating of Hold and an average price target of $20.38.

Shares of First Foundation (NASDAQ:FFWM) traded up $0.22 during trading hours on Tuesday, reaching $19.16. 170,477 shares of the company were exchanged, compared to its average volume of 129,969. The company has a market capitalization of $723.66, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. First Foundation has a 52 week low of $13.64 and a 52 week high of $19.84. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $38.30 million during the quarter, compared to the consensus estimate of $38.83 million. First Foundation had a net margin of 19.62% and a return on equity of 10.32%. equities analysts anticipate that First Foundation will post 0.99 earnings per share for the current fiscal year.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $19.23, for a total transaction of $192,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 18.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Castine Capital Management LLC increased its position in shares of First Foundation by 4.9% in the 3rd quarter. Castine Capital Management LLC now owns 394,289 shares of the bank’s stock valued at $7,054,000 after acquiring an additional 18,416 shares during the period. Allianz Asset Management GmbH increased its position in shares of First Foundation by 23.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 155,450 shares of the bank’s stock valued at $2,781,000 after acquiring an additional 29,510 shares during the period. OxFORD Asset Management LLP increased its position in shares of First Foundation by 66.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 26,868 shares of the bank’s stock valued at $481,000 after acquiring an additional 10,723 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Foundation by 21.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 442,734 shares of the bank’s stock valued at $7,921,000 after acquiring an additional 78,969 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of First Foundation by 120.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 112,765 shares of the bank’s stock valued at $2,018,000 after acquiring an additional 61,565 shares during the period. 50.28% of the stock is currently owned by institutional investors and hedge funds.

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About First Foundation

First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.

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