First foundation (NASDAQ: FFWM – Get a rating) had its price target reduced by Piper Sandler research analysts to $17.50 in a research note released on Tuesday, Target Stock Advisor reports. Piper Sandler’s price target indicates a potential upside of 16.51% from the stock’s previous close.
FFWM has been the subject of a number of other research reports. DA Davidson reduced shares of First Foundation from a “buy” rating to a “neutral” rating and set a target price of $18.00 for the company. in a research note from Wednesday, October 26. StockNews.com began covering First Foundation stocks in a research note on Wednesday, October 12. They issued a “hold” rating for the company. B. Riley raised his price target on shares of First Foundation from $21.00 to $23.00 in a Wednesday July 27 research note. Finally, Raymond James cut his price target on First Foundation shares from $23.00 to $20.00 and set an “outperform” rating for the company in a Wednesday, October 26 research note. Three equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.10.
First base price
FFWM traded at $0.20 during midday trading on Tuesday, hitting $15.02. 309,067 shares of the company were traded, against an average volume of 267,191. The company has a market capitalization of $846.95 million, a price-earnings ratio of 6.95 and a beta of 1.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt ratio of 1.33. First Foundation has a one-year minimum of $14.05 and a one-year maximum of $28.99. The company has a 50-day simple moving average of $17.75 and a two-hundred-day simple moving average of $19.73.
First Foundation (NASDAQ: FFWM – Get a rating) last announced its quarterly results on Tuesday, October 25. The bank reported EPS of $0.51 for the quarter, missing analyst consensus estimates of $0.52 per ($0.01). The company posted revenue of $99.86 million for the quarter, versus a consensus estimate of $98.00 million. First Foundation had a return on equity of 10.71% and a net margin of 29.45%. As a group, research analysts predict that First Foundation will post EPS of 2.04 for the current year.
Institutional entries and exits
Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its stake in First Foundation by 79.5% during the second quarter. US Bancorp DE now owns 1,712 shares of the bank worth $35,000 after acquiring an additional 758 shares during the period. Quadrant Capital Group LLC increased its stake in First Foundation by 674.3% during the third quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank worth $39,000 after acquiring 1,888 additional shares during the period. Great West Life Assurance Co. Can acquired a new stake in First Foundation during Q3 for $46,000. Point72 Hong Kong Ltd acquired a new stake in First Foundation during Q3 worth $66,000. Finally, Prospera Financial Services Inc acquired a new stake in First Foundation during the 1st quarter at a value of $84,000. Institutional investors hold 69.58% of the company’s shares.
First Foundation Company Profile
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 .
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