Piper Sandler lowered the firm’s price target on First Foundation (FFWM) to $5.50 from $6 and keeps a Neutral rating on the shares. The firm is also lowering its 2025 operating EPS 5c from 15c following the loss on loan sales taken in Q2 and raise its 2026 EPS estimate to 35c from 25c on both stronger net interest income and fees, as well as lower non-interest expense.
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