Brokerages Set First Foundation Inc. (NASDAQ:FFWM) Target Price at $6.75

First Foundation Inc. (NASDAQ:FFWM) has received an average rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $6.75.

Separately, Piper Sandler cut their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd.

Institutional Investors Weigh In On First Foundation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in First Foundation by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock valued at $3,144,000 after buying an additional 90,612 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of First Foundation during the 4th quarter valued at $775,000. Strategic Value Bank Partners LLC increased its position in shares of First Foundation by 115.3% during the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after purchasing an additional 1,551,861 shares during the last quarter. Geode Capital Management LLC increased 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 during the last quarter. Finally, FMR LLC increased its position in shares of First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

First Foundation Price Performance

First Foundation stock opened at $4.90 on Monday. The stock has a market capitalization of $403.18 million, a price-to-earnings ratio of -3.65 and a beta of 1.35. First Foundation has a 52-week low of $4.52 and a 52-week high of $8.52. The stock’s 50 day moving average price is $5.45 and its two-hundred day moving average price is $6.47. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.