FBR analyst Bob Ramsey reiterates Market Perform rating, but increases price target on First Foundation (NASDAQ: FFWM) to $16.00 (from $15.50), noting strong 4Q results and continued robust growth from the company.

Ramsey comments, "FFWM continues to generate best-in-class loan growth as record originations helped EOP balances grow 10.7% QOQ and 44.8% YOY ($1B of net growth); the company guided for similar origination levels in 2017. Lower legal fees and a larger FHLB special dividend were also a tailwind for earnings. We like FFWM's robust loan growth and fee-rich revenue model, but remain on the sidelines given limited benefits from rising rates and the potential need to top up capital ratios to support growth."

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Shares of First Foundation closed at $15.00 yesterday.