First Foundation (NASDAQ:FFWM) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of First Foundation (NASDAQ:FFWM) from a hold rating to a sell rating in a research report sent to investors on Friday.

Separately, Piper Sandler decreased their price objective on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.75.

First Foundation Price Performance

NASDAQ FFWM opened at $4.97 on Friday. First Foundation has a 1 year low of $4.42 and a 1 year high of $8.52. The stock’s 50-day moving average price is $4.94 and its two-hundred day moving average price is $6.16. The company has a market cap of $408.94 million, a PE ratio of -3.71 and a beta of 1.19. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Hedge Funds Weigh In On First Foundation

Several institutional investors and hedge funds have recently modified their holdings of FFWM. Assenagon Asset Management S.A. acquired a new position in First Foundation in the 4th quarter worth about $775,000. Geode Capital Management LLC lifted its stake in First Foundation by 21.3% in the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock valued at $8,844,000 after acquiring an additional 249,237 shares during the last quarter. Barclays PLC grew its position in First Foundation by 30.0% in the third quarter. Barclays PLC now owns 145,932 shares of the bank’s stock worth $911,000 after acquiring an additional 33,666 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of First Foundation by 21.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank’s stock worth $3,814,000 after purchasing an additional 110,323 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of First Foundation by 665.3% during the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock valued at $32,000 after purchasing an additional 4,424 shares in the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

About First Foundation

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.