First Foundation (NASDAQ: FFWM – Get a rating) had its target price reduced by analysts at Raymond James from $28.00 to $25.00 in a research note released Thursday, Benzinga reports. The company currently has an “outperform” rating on the bank’s shares. Raymond James’ target price suggests a potential upside of 21.77% from the stock’s previous close.
A number of other equity research analysts also weighed in on the company. B. Riley lowered his price target on First Foundation from $34.00 to $31.00 in a Tuesday, April 12 research note. StockNews.com launched a coverage on First Foundation in a research note on Thursday, March 31. They have set a “holding” rating on the stock.
First Foundation stock traded down $0.33 during Thursday trading hours, hitting $20.53. The stock had a trading volume of 7 shares, compared to an average volume of 195,556 shares. The company has a market capitalization of $1.16 billion, a price-earnings ratio of 8.29 and a beta of 1.21. The company has a debt ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.91. The company’s 50-day moving average price is $21.47 and its 200-day moving average price is $24.02. First Foundation has a 52-week low of $20.11 and a 52-week high of $29.41.
Working 70 hours a week as a lawyer in Chicago, I was miserable.
I met guys who worked in the trading room at the local stock exchange. I started to negotiate the same way as them. I started with $50,000 (much more than I needed, actually).
I increased my $50,000 to $5.3M
First Foundation (NASDAQ: FFWM – Get a rating) last announced its results on Tuesday, April 26. The bank reported EPS of $0.55 for the quarter, beating analyst consensus estimates of $0.51 by $0.04. The company posted revenue of $89.92 million in the quarter, versus a consensus estimate of $89.18 million. First Foundation had a net margin of 34.58% and a return on equity of 13.80%. In the same period a year earlier, the company posted earnings per share of $0.50. On average, sell-side analysts expect First Foundation to post EPS of 2.26 for the current fiscal year.
Several hedge funds have recently changed their positions in the company. Andrew Hill Investment Advisors Inc. acquired a new position in First Foundation in Q4 worth $48,000. Prospera Financial Services Inc acquired a new position in First Foundation in Q1 worth $84,000. Ameritas Investment Partners Inc. increased its stake in First Foundation by 23.8% in Q1. Ameritas Investment Partners Inc. now owns 3,883 shares of the bank valued at $94,000 after buying 747 additional shares in the last quarter. Amalgamated Bank acquired a new position in First Foundation in Q1 worth $137,000. Finally, Acadian Asset Management LLC acquired a new position in First Foundation in the 4th quarter at a value of $165,000. 60.50% of the shares are held by institutional investors and hedge funds.
First Foundation Company Profile (Get a rating)
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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