Piper Sandler raised her price target on First Foundation (NASDAQ:FFWM) to $24.00.
According to the report released Friday, Piper Sandler research analysts lowered their target price for First Foundation (NASDAQ: FFWM) to $24.00. The Stock Target Advisor was kind enough to provide us with this information. Compared to the price at which the company’s shares are currently trading, the target price Piper Sandler has set for them indicates upside potential of 32.30%.
Research articles on the company written by other equity research analysts have recently been published. These articles were recently written. In a research note published on July 27, B. Riley stated his intention to raise his price target for First Foundation from $21.00 to $23.00 in a research note. Raymond James released a research note on July 7 in which they said they were reducing their price target for First Foundation from $28.00 to $25.00, but maintaining their “outperform” rating on the title.
First Foundation’s share price fell $0.12 to $18.14 on Friday, and trading volume was below normal, hitting 249,884 shares instead of the usual 253,115 shares. First Foundation’s stock price has fluctuated between $17.98 and $29.41 over the past year, with a high of $29.41 and a low of $17.98. The company has a price-earnings ratio of 7.31 and its beta value sits at 1.17. The company’s market capitalization is currently valued at $1.02 billion, while its price-to-earnings ratio is 7.31. The debt ratio is 0.45, the current ratio is 0.99 and the quick ratio is 0.94. All these figures are very close to each other. The company’s previous 200-day moving average is $21.39 and the previous 50-day moving average is $19.88.
On Tuesday, July 26, First Foundation (NASDAQ: FFWM) announced the release of its quarterly earnings report. The bank said its earnings per share (EPS) for the quarter was $0.59, $0.07 higher than analysts’ consensus estimate. Overall, First Foundation had a return on equity of 12.47% and a net margin of 33.93%. Equity researchers who predict corporate earnings expect First Foundation to earn $2.19 per share in the current fiscal year.
Recent changes in the number of shares held by large investors in FFWM have included both gains and declines in the number of shares held by large investors. GMT Capital Corporation increased the shares of First Foundation it held during the second quarter, bringing its total stake to 39.7%. After purchasing an additional 877,113 shares during the reporting period, GMT Capital Corp now owns a total of 3,085,494 shares of the bank, which have a combined value of $63,191,000. This brings the total value of GMT Capital Corp shares to $63,191,000. BlackRock Inc. increased the proportion of First Foundation it held by 22.1% in the first three months of 2018. BlackRock Inc. now owns a total of 3,817,772 shares of the bank, currently valued at 92,735,000 $ after purchasing 691,494 additional shares during the last quarter. This brings the total number of shares held by BlackRock Inc. to 3,817,772. The Vanguard Group Inc. increased the amount of First Foundation shares held by 26.0% in the first three months of 2018. During the Last fiscal quarter, Vanguard Group Inc. purchased 517,634 shares of the bank, bringing the total number of shares it owns in the banking institution to 2,506,062. The total value of these shares is $60,872,000. During the second quarter, Principal Financial Group Inc. increased its stake in First Foundation stock to 32.7%, bringing its total ownership percentage to that level. Principal Financial Group Inc. now owns 1,257,690 shares of the bank, which are worth $25,758,000 following the acquisition of 309,862 additional shares in the most recent quarter. These shares were acquired during the last quarter. And finally, in the last three months of the year, Alliancebernstein LP added an additional 1,087.8% of First Foundation shares to its holdings, bringing the total to 1,087.8%. Alliancebernstein LP now owns 332,187 shares of the bank, with a market value of $8,258,000. This is the result of the acquisition of 304,221 additional shares during the last fiscal quarter. Institutional investors hold ownership of the company’s shares, or 69.58% of the total.
First Foundation, Inc., through its subsidiaries, may provide its customers in the United States with a variety of banking services, including private wealth management, commercial banking, and personal banking. Banking and Wealth Management are the two distinct business facets it focuses on for its operations. The Company offers many types of bank deposit products, including checking and savings accounts for individuals and businesses, money market accounts, interest-bearing negotiable withdrawal orders and term deposit certificates, among other options. The Company also offers a wide range of lending products, such as loans for residential properties (multi-family and single-family), commercial properties (commercial real estate loans, commercial term loans and lines of credit), consumer (personal installment loans and lines of credit) and commercial real estate (loans for commercial real estate).