BlackRock Fund Advisors has recently announced that it has increased stake in First Foundation Inc. (NASDAQ:FFWM) by 3.06%. After grabbing 3.57 million shares, the institutional investor is now in possession of 0.11 million shares of the Financial Company. The new investment brought the stake of investor firm to 6.32% having worth around $49.96 million. Moreover, GMT Capital Corp. increased its share by 0.28 million to have a control over 3.37 million shares. And Fidelity Management & Research Co raised its holdings to 4422.0 shares by acquiring 2.76 million shares or 4.89% of the stake.
First Foundation Inc. (FFWM) concluded trading on 01/12/23 at a closing price of $15.27, with 0.38 million shares of worth about $5.82 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.06% during that period and on Thursday the price saw a gain of about 2.00%. Currently the company’s common shares owned by public are about 56.39M shares, out of which, 50.60M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the FFWM stock and their offered price forecasts bring an average price target of $18.10. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $16.00. The stock’s current price level is 15.64% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.56% for the stock. However, touching the estimated high of $20.00 would mean a gain of 23.65% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 57 times over the past 12 months. They bought 75,648 shares in 38 of the transactions. In 19 selling transactions, insiders dumped 18,000 shares.
Fidelity Small Cap Value Fund, Vanguard Total Stock Market Index, and Delaware Small Cap Core Fund are the top 3 mutual funds which are holding stakes in First Foundation Inc. Fidelity Small Cap Value Fund is currently holding 2.19 million shares of worth totaling $30.75 million. The company recently came buying 0.0 shares which brought its stake up to 3.89% of the company’s outstanding shares. Delaware Small Cap Core Fund, after buying 1.47 million shares, have now control over 2.60% of the stake in the company. It holds 11582.0 shares of worth $20.54 million.
First Foundation Inc. (NASDAQ: FFWM) started trading at $15.11, above $0.14 from concluding price of the previous day. However, the stock later moved at a day high price of 15.36, or with a gain of 2.00%. Stock saw a price change of 5.24% in past 5 days and over the past one month there was a price change of 6.26%. Year-to-date (YTD), FFWM shares are showing a performance of 6.56% which decreased to -43.42% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.17 but also hit the highest price of $28.01 during that period. The average intraday trading volume for First Foundation Inc. shares is 392.94K. The stock is currently trading 6.93% above its 20-day simple moving average (SMA20), while that difference is up 6.00% for SMA50 and it goes to -20.02% lower than SMA200.
BlackRock Fund Advisors acquired 3.57 million shares of First Foundation Inc. having value of about $49.96 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.11 million shares in the company valued at close to $1617154.08, or have control over 3.06% stake in the company. First Foundation Inc. (NASDAQ: FFWM) currently have 56.39M outstanding shares and institutions hold larger chunk of about 69.80% of that. Holding of mutual funds in the company is about 31.94% while other institutional holders and individual stake holders have control over 37.72% and 12.94% of the stake respectively.
The stock has a current market capitalization of $837.41M and its 3Y-monthly beta is at 0.95. PE ratio of stock for trailing 12 months is 7.08, while it has posted earnings per share of $2.16 in the same period. Its PEG reads 1.01 while making debt-to-equity ratio of 0.15. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FFWM, volatility over the week remained 2.67% while standing at 2.79% over the month.
Analysts are in expectations that First Foundation Inc. (FFWM) stock would likely to be making an EPS of $0.41 in the current quarter, while forecast for next quarter EPS is $0.36 and it is $1.79 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.34 which is $0.52 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.53 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 28.20% while it is estimated to decrease by -38.26% in next year. EPS is likely to shrink at an annualized rate of 7.00% for next 5-years, compared to annual growth of 28.20% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the First Foundation Inc. (FFWM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 5 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by DA Davidson on October 26, 2022 offering a Neutral rating for the stock and assigned a target price of $18 to it. Coverage by B. Riley Securities stated First Foundation Inc. (FFWM) stock as a Neutral in their note to investors on July 11, 2022, suggesting a price target of $21 for the stock. On February 02, 2022, Stephens Initiated their recommendations, while on April 24, 2020, Piper Sandler Upgrade their ratings for the stock with a price target of $15. Stock get an Outperform rating from Wedbush on March 24, 2020.