First Foundation (NASDAQ:FFWM) Gets Neutral Rating from Piper Sandler

Piper Sandler reissues neutral rating on stock First Foundation (NASDAQ:FFWM – Free Report) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a price target of $6.00 on the bank’s shares.

Other research analysts also recently issued research reports on the stock. DA Davidson raised shares of First Foundation from a Neutral rating to a Buy and raised their price target on the stock from $8.00 to $9.00 in a report on Wednesday. StockNews.com raised shares of First Foundation from a Sell to a Hold in a report on Friday, April 26. Wedbush lowered their price target on shares of First Foundation from $6.00 to $5.00 and set a Neutral rating for the company in a research note on Wednesday. Raymond James lowered First Foundation from a Strong Buy rating to a Market Perform rating in a research note on Wednesday. Finally, Stephens lowered First Foundation from an Outperform rating to an Equal Weight rating in a research note on Wednesday. Five research analysts have rated the stock as a Hold, while one has given the company a Buy rating. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $8.00.

See our latest FFWM analysis

First results of the foundation’s campaign

First Foundation stock opened at $5.01 on Wednesday. The company has a 50-day simple moving average of $5.82 and a 200-day simple moving average of $7.46. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.84. The lowest value of First Foundation in the last twelve months was $3.69, and the highest was $11.47. The company has a market capitalization of $282.83 million, a P/E ratio of -1.37 and a beta of 1.34.

First Foundation (NASDAQ:FFWM – Get Free Report) last released its quarterly earnings data on Thursday, April 25. The bank reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $51.07 million for the quarter, compared to the consensus estimate of $58.93 million. First Foundation had a positive return on equity of 1.11% and a negative net margin of 32.44%. Research analysts expect First Foundation to post $0.11 earnings per share for the current year.

First announcement of foundation dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16. Shareholders of record on Monday, May 6 received a dividend of $0.01. The ex-dividend date was Friday, May 3. This represents an annual dividend of $0.04 and a yield of 0.80%. First Foundation’s Dividend Payout Ratio (DPR) is currently -1.09%.

Institutional inflows and outflows

A number of hedge funds and other institutional investors have recently changed their positions in the company. Diversified Trust Co increased its position in shares of First Foundation by 8.5% in the fourth quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock worth $135,000 after purchasing an additional 1,089 shares in the last quarter. Riverview Trust Co purchased a new stake in First Foundation in the first quarter worth $25,000. Empowered Funds LLC increased its holdings in shares of First Foundation by 8.2% in the first quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after purchasing an additional 3,500 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of First Foundation by 22.5% in the fourth quarter. Principal Financial Group Inc. now owns 32,971 shares of the bank’s stock worth $319,000 after purchasing an additional 6,045 shares during the period. Finally, Quadrature Capital Ltd raised its position in First Foundation by 77.3% during the first quarter. Quadrature Capital Ltd now owns 23,119 shares of the bank’s stock worth $174,000 after purchasing an additional 10,076 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Company Profile

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First Foundation Inc., through its subsidiaries, provides banking, investment advisory, wealth management, and fiduciary 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 certificates of deposit; and lending products consisting of multifamily and single-family residential loans, commercial mortgage loans, commercial term loans, and lines of credit, and consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

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