First Foundation (NASDAQ:FFWM) Price Target Cut to $6.00 by Analysts at Piper Sandler

First Foundation (NASDAQ:FFWM - Get Free Report) had its price objective lowered by equities researchers at Piper Sandler from $7.00 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Piper Sandler's price target would indicate a potential upside of 9.99% from the stock's previous close.

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

First Foundation Stock Up 1.6 %

First Foundation stock traded up $0.09 during trading on Monday, hitting $5.46. 294,031 shares of the company were exchanged, compared to its average volume of 518,000. First Foundation has a 52 week low of $4.66 and a 52 week high of $8.56. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $449.30 million, a P/E ratio of -4.08 and a beta of 1.35. The business's 50 day moving average is $6.46 and its 200 day moving average is $6.75.

Institutional Trading of First Foundation

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Foundation by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank's stock worth $3,144,000 after buying an additional 90,612 shares in the last quarter. Strategic Value Bank Partners LLC lifted its stake in First Foundation by 115.3% in the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank's stock worth $18,086,000 after purchasing an additional 1,551,861 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in First Foundation in the 4th quarter valued at $775,000. Geode Capital Management LLC grew its position in shares of First Foundation by 21.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank's stock valued at $8,844,000 after purchasing an additional 249,237 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of First Foundation by 20.1% in the third quarter. FMR LLC now owns 6,099,900 shares of the bank's stock worth $38,063,000 after purchasing an additional 1,019,484 shares during the period. Hedge funds and other institutional investors own 73.10% of the company's stock.

About First Foundation

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.