First Foundation (NASDAQ:FFWM) Downgraded by BidaskClub

BidaskClub lowered shares of First Foundation (NASDAQ:FFWM) from a sell rating to a strong sell rating in a research note released on Thursday morning, BidAskClub reports.

Several other equities analysts also recently commented on the stock. ValuEngine raised shares of First Foundation from a strong sell rating to a sell rating in a report on Thursday, January 16th. Zacks Investment Research downgraded shares of First Foundation from a buy rating to a hold rating in a report on Tuesday, January 14th. Finally, B. Riley boosted their target price on shares of First Foundation from $19.00 to $21.00 and gave the stock a buy rating in a report on Thursday, January 9th.

NASDAQ:FFWM traded down $0.12 during trading hours on Thursday, hitting $16.64. 105,700 shares of the stock traded hands, compared to its average volume of 74,569. The company has a quick ratio of 0.88, a current ratio of 0.98 and a debt-to-equity ratio of 0.86. First Foundation has a 1 year low of $12.91 and a 1 year high of $17.64. The company has a market cap of $748.40 million, a price-to-earnings ratio of 13.53 and a beta of 0.87. The stock has a 50 day moving average price of $16.99 and a 200 day moving average price of $15.48.

First Foundation (NASDAQ:FFWM) last released its earnings results on Wednesday, October 23rd. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. First Foundation had a net margin of 19.41% and a return on equity of 9.52%. The firm had revenue of $57.11 million for the quarter, compared to the consensus estimate of $56.83 million. Equities analysts forecast that First Foundation will post 1.23 earnings per share for the current fiscal year.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.54, for a total value of $165,400.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $330,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Michel sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $15.74, for a total transaction of $78,700.00. Following the completion of the transaction, the chief financial officer now directly owns 37,000 shares in the company, valued at approximately $582,380. The disclosure for this sale can be found here. Insiders sold 82,937 shares of company stock worth $1,356,902 in the last three months. Insiders own 13.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FFWM. Phocas Financial Corp. purchased a new position in shares of First Foundation in the second quarter worth $42,000. Royal Bank of Canada increased its position in First Foundation by 565.5% in the second quarter. Royal Bank of Canada now owns 3,088 shares of the bank’s stock worth $42,000 after purchasing an additional 2,624 shares during the last quarter. Bank of Montreal Can bought a new stake in First Foundation in the second quarter worth $44,000. JPMorgan Chase & Co. increased its position in First Foundation by 15.5% in the second quarter. JPMorgan Chase & Co. now owns 10,739 shares of the bank’s stock worth $143,000 after purchasing an additional 1,444 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in First Foundation in the second quarter worth $158,000. 59.17% of the stock is currently owned by hedge funds and other institutional investors.

About First Foundation

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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