First Foundation (FFWM) Upgraded to “Strong-Buy” by BidaskClub

First Foundation (NASDAQ:FFWM) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research firms have also recently weighed in on FFWM. Zacks Investment Research raised First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 16th. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target (down previously from $23.00) on shares of First Foundation in a report on Thursday, February 1st. TheStreet raised First Foundation from a “c+” rating to a “b” rating in a report on Monday, March 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 price target on shares of First Foundation in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $20.70.

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Shares of FFWM stock opened at $18.13 on Friday. The stock has a market capitalization of $753.70, a PE ratio of 22.95, a P/E/G ratio of 2.17 and a beta of 0.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.02 and a current ratio of 1.13. First Foundation has a 1-year low of $14.90 and a 1-year high of $19.84.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. First Foundation had a return on equity of 10.28% and a net margin of 15.71%. The firm had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $40.94 million. analysts expect that First Foundation will post 1.27 earnings per share for the current fiscal year.

In related news, Director Max Briggs sold 24,695 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $19.00, for a total transaction of $469,205.00. Following the transaction, the director now directly owns 11,101 shares of the company’s stock, valued at approximately $210,919. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $18.66, for a total value of $186,600.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $373,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,791 shares of company stock worth $2,305,802. 18.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of First Foundation by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock valued at $362,000 after buying an additional 1,165 shares in the last quarter. Cadence Capital Management LLC raised its holdings in shares of First Foundation by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 96,925 shares of the bank’s stock valued at $1,734,000 after buying an additional 4,661 shares in the last quarter. Swiss National Bank raised its holdings in shares of First Foundation by 11.8% during the 4th quarter. Swiss National Bank now owns 52,000 shares of the bank’s stock valued at $964,000 after buying an additional 5,500 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of First Foundation by 8.6% during the 4th quarter. First Trust Advisors LP now owns 72,230 shares of the bank’s stock valued at $1,339,000 after buying an additional 5,700 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of First Foundation during the 3rd quarter valued at about $117,000. 54.15% of the stock is currently owned by institutional investors.

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First Foundation Company Profile

First Foundation Inc is a financial services holding company that 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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