First Foundation (NASDAQ:FFWM) Price Target Lowered to $6.00 at Piper Sandler

First Foundation (NASDAQ:FFWM) had its price objective decreased by Piper Sandler from $7.00 to $6.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Separately, StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Stock Down 2.4 %

NASDAQ FFWM opened at $5.03 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation has a fifty-two week low of $4.66 and a fifty-two week high of $8.88. The business has a 50 day moving average price of $6.63 and a two-hundred day moving average price of $6.78. The stock has a market cap of $413.86 million, a PE ratio of -3.75 and a beta of 1.36.

Institutional Trading of First Foundation

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in First Foundation by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after acquiring an additional 24,440 shares in the last quarter. Sei Investments Co. grew its stake in First Foundation by 30.5% in the second quarter. Sei Investments Co. now owns 44,246 shares of the bank’s stock worth $290,000 after purchasing an additional 10,350 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in First Foundation in the second quarter valued at about $838,000. AQR Capital Management LLC raised its stake in First Foundation by 65.4% during the second quarter. AQR Capital Management LLC now owns 253,119 shares of the bank’s stock valued at $1,658,000 after buying an additional 100,070 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after buying an additional 1,632 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Company Profile

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.