Raymond James Upgrades First Foundation (FFWM)
Fintel reports that on January 5, 2024, Raymond James upgraded their outlook for First Foundation (NYSE:FFWM) from Outperform to Strong Buy .
Analyst Price Forecast Suggests 18.93% Downside
As of December 16, 2023, the average one-year price target for First Foundation is 8.06. The forecasts range from a low of 6.06 to a high of $10.50. The average price target represents a decrease of 18.93% from its latest reported closing price of 9.94.
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The projected annual revenue for First Foundation is 511MM, an increase of 84.68%. The projected annual non-GAAP EPS is 2.12.
What is the Fund Sentiment?
There are 345 funds or institutions reporting positions in First Foundation. This is an increase of 8 owner(s) or 2.37% in the last quarter. Average portfolio weight of all funds dedicated to FFWM is 0.08%, an increase of 83.74%. Total shares owned by institutions increased in the last three months by 5.48% to 46,012K shares. 
The put/call ratio of FFWM is 2.16, indicating a bearish outlook.
What are Other Shareholders Doing?
Azora Capital holds 2,943K shares representing 5.21% ownership of the company. In it's prior filing, the firm reported owning 2,078K shares, representing an increase of 29.38%. The firm increased its portfolio allocation in FFWM by 27.99% over the last quarter.
FCPVX - Fidelity Small Cap Value Fund holds 2,281K shares representing 4.04% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,567K shares representing 2.78% ownership of the company. No change in the last quarter.
Philadelphia Financial Management of San Francisco holds 1,437K shares representing 2.55% ownership of the company.
Banc Funds Co holds 1,353K shares representing 2.40% ownership of the company. No change in the last quarter.
First Foundation Background Information
(This description is provided by the company.)
First Foundation Inc. and its subsidiaries offer personal banking, business banking, and private wealth management services, including investment, trust, insurance, and philanthropy services. This comprehensive platform of financial services is designed to help clients at any stage in their financial journey. First Foundation is comprised of an extraordinary team of financial professionals united around a single cause: to enable growth-minded individuals and businesses to boldly live the life they imagined and preserve the legacy they've worked so hard to build. The broad range of financial products and services offered by First Foundation are more consistent with those offered by larger financial institutions, while its high level of personalized service, accessibility, and responsiveness to clients is more aligned with community banks and boutique wealth management firms. This combination of an integrated platform of comprehensive financial services and the products along with personalized service differentiates First Foundation from many of its competitors and has contributed to the growth of its client base and business. Services are offered through bank and/or wealth management branch offices in California, Nevada, and Hawaii.
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This story originally appeared on Fintel.