Zacks Investment Research upgraded shares of First Foundation (NASDAQ:FFWM) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. They currently have $17.00 price target on the bank’s stock.

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. “

Several other research analysts also recently weighed in on FFWM. B. Riley upped their price objective on shares of First Foundation from $19.00 to $21.00 and gave the stock a buy rating in a report on Wednesday, July 22nd. TheStreet upgraded shares of First Foundation from a c rating to a b- rating in a report on Monday, June 8th. BidaskClub downgraded shares of First Foundation from a buy rating to a hold rating in a report on Friday, July 10th. Piper Sandler upgraded shares of First Foundation from a neutral rating to an overweight rating and set a $15.00 price objective on the stock in a report on Friday, April 24th. Finally, Raymond James upped their target price on shares of First Foundation from $13.00 to $19.00 and gave the stock an outperform rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. First Foundation has an average rating of Buy and a consensus target price of $17.00.

First Foundation stock opened at $16.63 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.27. First Foundation has a 12-month low of $8.01 and a 12-month high of $17.64. The firm’s fifty day moving average is $15.67 and its 200 day moving average is $14.18. The company has a market capitalization of $753.35 million, a PE ratio of 11.71 and a beta of 1.43.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. First Foundation had a net margin of 21.72% and a return on equity of 10.37%. The firm had revenue of $57.42 million for the quarter, compared to the consensus estimate of $56.73 million. Sell-side analysts expect that First Foundation will post 1.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, July 23rd. This represents a $0.28 annualized dividend and a yield of 1.68%. First Foundation’s payout ratio is currently 22.40%.

A number of institutional investors and hedge funds have recently bought and sold shares of FFWM. AJO LP bought a new position in First Foundation during the second quarter worth about $36,000. New York State Teachers Retirement System bought a new position in First Foundation during the second quarter worth about $56,000. Bank of Montreal Can boosted its position in First Foundation by 159.6% during the second quarter. Bank of Montreal Can now owns 5,109 shares of the bank’s stock worth $77,000 after purchasing an additional 3,141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Foundation by 69.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,899 shares of the bank’s stock worth $80,000 after purchasing an additional 2,009 shares during the period. Finally, Martingale Asset Management L P bought a new position in First Foundation during the first quarter worth about $106,000. Institutional investors own 57.06% of the company’s stock.

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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