First Foundation Inc. (FFWM) Rating Increased to Buy at Zacks Investment Research
First Foundation Inc. (NASDAQ:FFWM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $28.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 14.05% from the stock’s current price.
According to Zacks, “First Foundation Inc. engages in providing integrated investment management, wealth planning, consulting, trust and banking services. It operates in two segments, Banking and Wealth Management. The company offers a range of bank deposit products; loan products; specialized services comprising trust services, on-line banking, remote deposit capture, merchant credit card services, ATM cards, Visa debit cards, and business sweep accounts, as well as insurance brokerage services. It offers investment portfolio management and financial planning services; advisory and coordination services and wealth management services. First Foundation Inc. is headquartered in Irvine, California. “
Other equities analysts have also issued reports about the stock. FBR & Co lifted their price objective on shares of First Foundation from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. DA Davidson reiterated a “buy” rating and issued a $27.00 price objective on shares of First Foundation in a research report on Tuesday, August 23rd.
Shares of First Foundation (NASDAQ:FFWM) opened at 24.55 on Wednesday. The stock’s 50 day moving average is $24.60 and its 200-day moving average is $23.07. First Foundation has a 12-month low of $20.00 and a 12-month high of $25.25. The stock has a market cap of $398.20 million, a price-to-earnings ratio of 25.73 and a beta of 0.41.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. First Foundation had a net margin of 12.68% and a return on equity of 4.84%. Equities analysts anticipate that First Foundation will post $1.38 EPS for the current fiscal year.
In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $24.27, for a total value of $121,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. acquired a new position in shares of First Foundation during the second quarter worth about $163,000. Dimensional Fund Advisors LP acquired a new position in shares of First Foundation during the second quarter worth about $226,000. Rhumbline Advisers acquired a new position in shares of First Foundation during the second quarter worth about $238,000. Nationwide Fund Advisors raised its position in shares of First Foundation by 193.8% in the second quarter. Nationwide Fund Advisors now owns 12,928 shares of the company’s stock worth $278,000 after buying an additional 8,528 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of First Foundation during the second quarter worth about $308,000. 56.09% of the stock is currently owned by institutional investors.
First Foundation Company Profile
First Foundation Inc is a financial services holding company. The Company provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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