First Foundation (NASDAQ:FFWM) Downgraded by ValuEngine

First Foundation (NASDAQ:FFWM) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Monday, ValuEngine reports.

Several other analysts have also issued reports on the stock. BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th.

NASDAQ FFWM traded up $0.36 during trading on Monday, hitting $15.37. 119,307 shares of the company’s stock traded hands, compared to its average volume of 138,029. The stock has a fifty day moving average of $14.83 and a two-hundred day moving average of $14.17. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.10 and a quick ratio of 0.97. First Foundation has a 12-month low of $11.79 and a 12-month high of $16.66. The firm has a market cap of $667.32 million, a P/E ratio of 13.14 and a beta of 0.87.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. First Foundation had a net margin of 18.97% and a return on equity of 9.35%. The business had revenue of $51.02 million during the quarter, compared to analyst estimates of $50.43 million. As a group, analysts expect that First Foundation will post 1.21 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of FFWM. Balyasny Asset Management LLC raised its stake in shares of First Foundation by 75.1% during the second quarter. Balyasny Asset Management LLC now owns 645,534 shares of the bank’s stock valued at $8,676,000 after acquiring an additional 276,892 shares during the last quarter. FMR LLC raised its stake in shares of First Foundation by 6.6% during the first quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock valued at $54,289,000 after acquiring an additional 247,100 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of First Foundation during the second quarter valued at about $2,274,000. Context BH Capital Management LP raised its stake in shares of First Foundation by 34.1% during the second quarter. Context BH Capital Management LP now owns 332,726 shares of the bank’s stock valued at $4,472,000 after acquiring an additional 84,671 shares during the last quarter. Finally, Banc Funds Co. LLC raised its stake in shares of First Foundation by 6.2% during the second quarter. Banc Funds Co. LLC now owns 1,439,601 shares of the bank’s stock valued at $19,348,000 after acquiring an additional 83,991 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

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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