First Foundation (NASDAQ:FFWM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of First Foundation (NASDAQ:FFWM) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “First Foundation Inc. engages in providing integrated investment management, wealth planning, consulting, trust and banking services. It operates in two segments, Banking and Wealth Management. The company offers a range of bank deposit products; loan products; specialized services comprising trust services, on-line banking, remote deposit capture, merchant credit card services, ATM cards, Visa debit cards, and business sweep accounts, as well as insurance brokerage services. It offers investment portfolio management and financial planning services; advisory and coordination services and wealth management services. First Foundation Inc. is headquartered in Irvine, California. “

A number of other equities analysts have also recently issued reports on FFWM. ValuEngine raised First Foundation from a strong sell rating to a sell rating in a report on Saturday, July 27th. BidaskClub raised First Foundation from a sell rating to a hold rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $18.00.

Shares of FFWM opened at $14.55 on Tuesday. First Foundation has a 12-month low of $11.79 and a 12-month high of $17.04. The business has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $14.12. The company has a quick ratio of 0.95, a current ratio of 1.10 and a debt-to-equity ratio of 1.50. The stock has a market cap of $627.59 million, a PE ratio of 12.02, a PEG ratio of 1.65 and a beta of 0.84.

First Foundation (NASDAQ:FFWM) last issued its earnings results on Wednesday, July 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. First Foundation had a return on equity of 9.35% and a net margin of 18.97%. The business had revenue of $51.02 million during the quarter, compared to analysts’ expectations of $50.43 million. On average, equities research analysts expect that First Foundation will post 1.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.37%. First Foundation’s payout ratio is presently 17.09%.

A number of institutional investors and hedge funds have recently modified their holdings of FFWM. Dimensional Fund Advisors LP increased its holdings in First Foundation by 25.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,602,366 shares of the bank’s stock worth $20,606,000 after purchasing an additional 321,622 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in First Foundation by 75.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 645,534 shares of the bank’s stock worth $8,676,000 after purchasing an additional 276,892 shares in the last quarter. FMR LLC grew its position in shares of First Foundation by 6.6% in the 1st quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock valued at $54,289,000 after buying an additional 247,100 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of First Foundation in the 2nd quarter valued at about $2,274,000. Finally, Banc Funds Co. LLC grew its position in shares of First Foundation by 9.7% in the 1st quarter. Banc Funds Co. LLC now owns 1,355,610 shares of the bank’s stock valued at $18,396,000 after buying an additional 120,000 shares during the last quarter. 60.84% of the stock is owned by institutional investors and hedge funds.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company 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 certificates of deposit; and loan products consisting of multifamily 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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