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First Foundation

First Foundation Inc is a financial services company. It is engaged in providing investment management and financial planning services for high-net-worth individuals, retirement plans, charitable institutions, and private foundations. The company focuses on segments namely Banking and Wealth Management. It also offers loans to individuals and entities that own and operate multifamily residential and commercial real estate properties as well as business banking products and services to small to moderate-sized businesses, professional firms, and consumer banking products and services to individuals.

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VATE

Descubre las acciones que lideran el premercado con sorprendentes subidas y caídas. INNOVATE y más protagonistas hoy.

Las acciones de INNOVATE (VATE) cotizan un 19% más alto; 20 acciones que se mueven en el premercado de EE.UU.

First Foundation Inc

Shares of INNOVATE Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VATE#NYSE">VATE</a>) rose sharply in today's <a href="https://www.benzinga.com/quote/VATE">pre-market trading</a>.
INNOVATE announced the FDA approval of MediBeacon&#8217;s TGFR System For accurate kidney function testing.
INNOVATE shares jumped 19.4% to $6.10 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>EON Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EONR#NYSE">EONR</a>) gained 89.2% to $1.93 in pre-market trading.</li>
<li>Dogwood Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWTX#NASDAQ">DWTX</a>) rose 62.5% to $3.04 in pre-market trading after falling 3% on Friday.</li>
<li>Crown Electrokinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) rose 43.5% to $0.1794 in pre-market trading. Crown Electrokinetics shares jumped around 57% on Friday after the company announced it entered into an exclusive partnership with Electro Scan.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) gained 30.7% to $2.33 in pre-market trading. Trio Petroleum said as of Jan. 7, it has fully repaid senior secured convertible promissory notes with aggregate principal of $1.6 million.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) gained 22.9% to $43.21 in pre-market trading.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) gained 22.8% to $0.9185 in pre-market trading.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) gained 22.6% to $1.63 in pre-market trading.</li>
<li>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) gained 12.7% to $7.09 in pre-market trading. First Foundation will release its fourth quarter 2024 earnings results before the opening bell on Thursday, Jan. 30.</li>
<li>Riskified Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSKD#NYSE">RSKD</a>) gained 9.2% to $5.49 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Canoo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) fell 72.3% to $0.3736 in pre-market trading after the company announced Chapter 7 bankruptcy filing, ending operations effective immediately.</li>
<li>Orangekloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORKT#NASDAQ">ORKT</a>) shares fell 30.3% to $0.78 in pre-market trading after dipping 72% on Friday.</li>
<li>Treace Medical Concepts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) fell 29.4% to $6.14 in pre-market trading after gaining over 5% on Friday.</li>
<li>IF Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IROQ#NASDAQ">IROQ</a>) shares dipped 29.4% to $18.00 in pre-market trading after gaining 6% on Friday.</li>
<li>TechTarget, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTGT#NASDAQ">TTGT</a>) shares tumbled 19.5% to $14.00 in pre-market trading.</li>
<li>Elicio Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELTX#NASDAQ">ELTX</a>) shares fell 19.4% to $5.10 in pre-market trading.</li>
<li>Baird Medical Investment Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDMD#NASDAQ">BDMD</a>) fell 18.2% to $7.24 in today's pre-market trading after jumping 63% on Friday.</li>
<li>Rayonier Advanced Materials Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAM#NYSE">RYAM</a>) declined 17.1% to $6.24 in pre-market trading</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) fell 16.2% to $50.98 in pre-market trading after the company announced weak quarterly earnings.</li>
<li>SWK Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKH#NASDAQ">SWKH</a>) dipped 14.3% to $14.00 in pre-market trading.</li>
</ul>
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Why INNOVATE Shares Are Trading Higher By Over 19%; Here Are 20 Stocks Moving Premarket

First Foundation Says Ceo Scott F. Kavanaugh Retires, Appoints Thomas C. Shafer As Successor

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) reported quarterly earnings of $0.04 per share which beat the analyst consensus estimate of $(0.54) by 107.41 percent. This is a 20 percent decrease over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $61.019 million which beat the analyst consensus estimate of $60.675 million by 0.57 percent. This is a 4.32 percent decrease over sales of $63.771 million the same period last year.

Earnings

Earnings Beats

First Foundation Q3 2024 Adj. EPS $0.04 Beats $(0.54) Estimate, Sales $61.019M Beat $60.675M Estimate

Strategic Value Bank Partners Reports 8.2% Stake In First Foundation As Of Oct 2

First Foundation shares are trading higher after the company announced it will be reclassifying $1.9 billion from its multifamily portfolio from loans held to maturity to loans held for sale.

General

First Foundation With Two Wholly-owned Operating Subsidiaries, Announced The Reclassification Of A Portion Of Its Multifamily Portfolio Totaling $1.9B Principal Balance From Loans Held To Maturity To Loans Held For Sale

Management

First Foundation Appoints Simone Lagomarsino As President

In the latest quarter, 6 analysts provided ratings for First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>), showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $6.83, along with a high estimate of $9.00 and a low estimate of $5.00. No alteration is observed as the current average remains at the previous average price target. 
<img src="https://www.benzinga.com/files/images/story/2024/1722016874_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
A comprehensive examination of how financial experts perceive First Foundation is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Terrell</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$7.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>Matthew Clark</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$6.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$5.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>Gary Tenner</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$9.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$7.00</td>
<td>$8.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to First Foundation. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of First Foundation compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into First Foundation's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FFWM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on First Foundation analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Unveiling the Story Behind First Foundation</h2>
First Foundation Inc is a financial services company. It is engaged in providing investment management and financial planning services for high-net-worth individuals, retirement plans, charitable institutions, and private foundations. The company focuses on segments namely Banking and Wealth Management. It also offers loans to individuals and entities that own and operate multifamily residential and commercial real estate properties as well as business banking products and services to small to moderate-sized businesses, professional firms, and consumer banking products and services to individuals.
<h3>Financial Insights: First Foundation</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Challenges: First Foundation's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -24.95%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: First Foundation's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 1.97%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 0.09%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): First Foundation's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.01%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a high debt-to-equity ratio of 2.02, First Foundation faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Navigating 6 Analyst Ratings For First Foundation

Stephens &amp; Co. analyst Andrew Terrell maintains First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) with a Equal-Weight and raises the price target from $6 to $7.

Price Target

Stephens & Co. Maintains Equal-Weight on First Foundation, Raises Price Target to $7

First Foundation Reported Loan To Deposit Ratio Of 93.8% As Of June 30, 2024

First Foundation Q2 2024 Adj EPS $0.06 Beats $0.01 Estimate, Sales $57.487M Beat $55.041M Estimate

U.S. regional banks are experiencing sessions of significant gains, as growing expectations for interest rate cuts fueled an investor rotation from large-cap<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year"> to small-cap stocks.</a>
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) — a widely followed gauge for the industry — rallied as much as 4.5% on Tuesday, marking the strongest session since December 2023.
Notably, the recent five-day rally of nearly 15% was the strongest for regional banks since November 2020.
With Tuesday&#8217;s move, regional banks have effectively recouped all losses suffered after March 9, 2023, characterized by the failure of Silicon Valley Bank and Signature Bank.
&#8220;Lending conditions for commercial and industrial loans have eased substantially since last year's regional bank crisis. The net percentage of lenders reporting tightening lending standards has declined from the peak of 50% at the end of 2023 to 20% today for both small and large firms,&#8221; Goldman Sachs wrote in a recent note on regional banks.
<h1 class="wp-block-heading">Chart: Regional Banks Rebound To Pre-Silicon Valley Bank Collapse Levels</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="524" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png" alt="" class="wp-image-439490" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1536x786.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga pro</a>
<h1 class="wp-block-heading">Tuesday&#8217;s Top Performers Within Regional Banks</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td> 1-Day %</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>12.53%</td>
</tr>
<tr>
<td>Mercantile Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NYSE">MBWM</a>)</td>
<td>12.06%</td>
</tr>
<tr>
<td>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>)</td>
<td>10.35%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>10.00%</td>
</tr>
<tr>
<td>CrossFirst Bankshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFB#NASDAQ">CFB</a>)</td>
<td>9.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>8.04%</td>
</tr>
<tr>
<td>Peapack-Gladstone Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>)</td>
<td>7.88%</td>
</tr>
</tbody>
</table>
</figure>
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Interested in learning more about small-cap stocks? Sign up for the Benzinga Small Cap Conference in Chicago on Oct. 10. <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/">Click here</a> for information. 
Photo: Shutterstock

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Regional Bank Gains Hit Levels Unseen Since Silicon Valley Bank's Failure As Investor Sentiment Shifts To Small-Cap Names

Shares of First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>), a Texas-based <a href="https://www.benzinga.com/markets/equities/24/05/39099474/regional-banks-yet-to-recover-from-svb-collapse-time-to-invest-in-the-top-banking-etf">regional bank facing</a> commercial real-estate risks, dropped significantly on Wednesday after it received some badly needed help from a group of investors led by Fortress Investment Group.
The stock closed at $6.58 a share on Tuesday but fell 24.7% to $4.95 by mid-day on Wednesday.
Fortress,&nbsp;Canyon Partners,&nbsp;Strategic Value Bank Partners,&nbsp;North Reef Capital&nbsp;and other investors agreed to buy $228 million in common and preferred shares at $4.10 each from&nbsp;the Dallas bank, which has about $14 billion in assets, according to the firms, the Wall Street Journal <a href="https://www.wsj.com/finance/banking/investors-give-lifeline-to-texas-bank-confronting-real-estate-risks-33a75b51">reported</a>. 
Fortress will invest $115 million in First Foundation as part of the deal, while Canyon Partners will invest $46 million. Strategic Value and North Reef Capital plan to invest $22 million each. Fortress will own 24.9% of the bank after the deal closes, while other investors will own as much as 10%.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36917031/exclusive-regional-banks-a-buying-opportunity-amid-ridiculously-cheap-valuations-ve">EXCLUSIVE: Regional Banks A Buying Opportunity Amid &#8216;Ridiculously Cheap Valuations,&#8217; Veteran Value Investor Says</a>
The infusion is intended to give First Foundation some time to sell off certain loans, according to people close to the matter.&nbsp;
The commercial real-estate market has suffered as a result of higher interest rates and the rise of remote work leading to widespread declines in property values. That has increasingly threatened to leave banks with big losses, especially smaller institutions that hold higher concentrations of loans in that sector.
Higher rates have also caused the amount of interest that banks must pay up to depositors to rise, causing the value of fixed-rate securities they hold to fall. 
That pressure has pushed some regional banks to find ways to raise cash, and more banks are expected to execute similar deals to boost their finances, industry executives say, according to the Journal.
Federal Reserve Chair&nbsp;Jerome Powell&nbsp;has said there will likely be more failures related to commercial real estate but that there is no risk to the broader financial system, the Journal reported.
<h1 class="wp-block-heading">Brighter Outlook</h1>
D.A. Davidson &amp; Co. raised its outlook on First Foundation following the announced capital raise, upgrading the stock from Neutral to Buy and raising the price target from $6.57 to $9.
&#8220;While near term profitability remains under pressure, we view the raise as a clearing event, allowing the company the capacity to sell loans, reducing concentration levels and earnings pressure, and build its [allowance for credit losses], while maintaining solid capital levels,&#8221; analyst Gary Tenner said in a note on Wednesday. &#8220;Announced $228M equity investment provides balance sheet flexibility and capital boost.&#8221;
<h1 class="wp-block-heading">ETF Price Action</h1>
Retail bank exchange-traded funds also fell by Wednesday&#8217;s mid-day trading.
SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) slipped 1.29%, Direxion Daily Regional Banks Bull 3X Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPST#NYSE">DPST</a>) fell 3.89% and iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>) declined 0.95%.
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Photo: Shutterstock

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iShares Dow Jones US Regional Banks Index Fund

First Foundation Stock Plunges After $228M Fundraise: Regional Bank Has Heavy Commercial Real Estate Exposure

Piper Sandler analyst Matthew Clark maintains First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) with a Neutral and maintains $6 price target.

Piper Sandler Maintains Neutral on First Foundation, Maintains $6 Price Target

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Goldman Sachs raised the price target for On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) from $41 to $47. Goldman Sachs analyst Richard Edwards maintained a Buy rating. On Holding shares fell 2.1% to close at $37.22 on Tuesday. <a href="https://www.benzinga.com/quote/ONON/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank cut the price target for NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) from $115 to $92. Deutsche Bank analyst Krisztina Katai maintained a Buy rating. NIKE shares fell 1% to close at $76.04 on Tuesday. <a href="https://www.benzinga.com/quote/nke/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush raised Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target from $275 to $300. Wedbush analyst Daniel Ives maintained an Outperform rating. Tesla shares gained 10.2% to close at $231.26 on Tuesday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc cut the price target for Reliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) from $341 to $325. Keybanc analyst Philip Gibbs maintained an Overweight rating. Reliance shares gained 1% to close at $282.84 on Tuesday. <a href="https://www.benzinga.com/quote/RS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel slashed Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) price target from $55 to $47. Stifel analyst Stanley Elliott maintained a Buy rating. Summit Materials shares fell 0.1% to close at $35.61 on Tuesday. <a href="https://www.benzinga.com/quote/SUM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Susquehanna raised First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) price target from $258 to $285. Susquehanna analyst Biju Perincheril maintained a Positive rating. First Solar shares fell 2.7% to close at $216.73 on Tuesday. <a href="https://www.benzinga.com/quote/FSLR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut the price target for Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) from $505 to $470. Baird analyst Mark Altschwager maintained an Outperform rating. Lululemon shares fell 0.2% to close at $301.67 on Tuesday. <a href="https://www.benzinga.com/quote/LULU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>DA Davidson raised First Foundation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NASDAQ">FFWM</a>) price target from $8 to $9. DA Davidson analyst Gary Tenner upgraded the stock from Neutral to Buy. First Foundation shares gained 1.6% to close at $6.57 on Tuesday. <a href="https://www.benzinga.com/quote/FFWM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) price target from $280 to $255. Citigroup analyst Michael Rollins downgraded the stock from Neutral to Sell. Charter Communications shares gained 2.5% to close at  $303.50 on Tuesday. <a href="https://www.benzinga.com/quote/CHTR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS cut Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) price target from $17 to $12. UBS analyst Kevin Caliendo maintained a Neutral rating. Walgreens shares fell 0.1% to close at $11.57 on Tuesday. <a href="https://www.benzinga.com/quote/WBA/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/markets/equities/24/07/39594936/how-to-earn-500-a-month-from-greenbrier-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Greenbrier Stock Ahead Of Q3 Earnings</a>

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Tesla To Rally Around 30%? Here Are 10 Top Analyst Forecasts For Wednesday

U.S. stock futures were lower this morning, with the Nasdaq futures falling around 0.2% on Wednesday.
Shares of Simulations Plus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) fell sharply in today's pre-market trading after the company reported third-quarter financial results and issued FY24 EPS guidance below estimates. Also, the company announced that it will discontinue its <a href="https://www.benzinga.com/quote/SLP/earnings">quarterly cash dividend</a>.
Simulations Plus shares declined 5.3% to $44.39 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>First Foundation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NASDAQ">FFWM</a>) shares tumbled 27.7% to $4.75 in pre-market trading after the company announced that affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital have agreed to make individual investments aggregating to $228 million in the company.</li>
<li>Repay Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPAY#NASDAQ">RPAY</a>) shares slipped 14.1% to $8.78 in pre-market trading after the company announced pricing of its convertible notes offering.</li>
<li>Noah Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) shares declined 10.7% to $9.20 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) shares fell 5.5% to $24.51 in pre-market trading. NANO Nuclear Energy recently announced that it has signed a MoU to collaborate with Curio Solutions to optimize Curio&#8217;s nuclear fuel recycling capabilities for next-generation portable nuclear microreactors.</li>
<li>American Software, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMSWA#NASDAQ">AMSWA</a>) shares fell 5% to $8.62 in pre-market trading.</li>
<li>Garrett Motion Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTX#NASDAQ">GTX</a>) shares declined 4.5% to $8.30 in pre-market trading.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/markets/equities/24/07/39594936/how-to-earn-500-a-month-from-greenbrier-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Greenbrier Stock Ahead Of Q3 Earnings</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

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Simulations Plus Posts Q3 Results, Joins First Foundation And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Wedbush analyst David Chiaverini maintains First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) with a Neutral and lowers the price target from $6 to $5.

Wedbush Maintains Neutral on First Foundation, Lowers Price Target to $5

DA Davidson analyst Gary Tenner upgrades First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) from Neutral to Buy and raises the price target from $8 to $9.

Upgrades

DA Davidson Upgrades First Foundation to Buy, Raises Price Target to $9

First Foundation shares are trading lower after the company announced that affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital have agreed to make individual investments aggregating to $228 million in the company.

First Foundation Non-GAAP EPS of $0.04 beats by $0.21

First Foundation Inc. (FFWM) Q3 2024 Earnings Call Transcript

An update from First Foundation ( ($FFWM) ) is now available. C. Allen Parker has been appointed to the Board of Directors of First Foundation Inc....

First Foundation Appoints C. Allen Parker to Board

Zombie Banks Coming Alive As Yields Begin To Peak

First Foundation names Thomas Shafer as CEO

First Foundation (FFWM) announced the appointment of Thomas Shafer as its CEO. Shafer's appointment follows the retirement of Scott Kavanaugh, who ...

First Foundation CEO Scott Kavanaugh to retire, Thomas Shafer to succeed

First Foundation ( ($FFWM) ) has issued an announcement. First Foundation Inc. has announced the retirement of CEO Scott F. Kavanaugh after 17 year...

First Foundation Announces CEO Transition and New Leadership

U.S. Banks' Gain On Loan Sales Fall For 1st Time Since Q3 2023

17:02 EST First Foundation (FFWM) files to sell 70.26M shares of common stock for holders Published first on TheFly – the ultimate source for real-...

First Foundation files to sell 70.26M shares of common stock for holders

Total Return Breakouts: LendingClub, "Zombie" Bank Winners And A Fed Rate Cut Next Week

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Press Releases

First Foundation Inc. Reports First Quarter 2024 Financial Results

First Foundation Inc. Announces Over $225 Million Equity Investment Anchored by Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital

First Foundation Inc. Announces Second Quarter 2024 Earnings Conference Call Details

First Foundation Inc. Closes $228 Million Equity Investment Anchored by Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital

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