American Century Companies Inc. Sells 85,099 Shares of First Foundation Inc. $FFWM

American Century Companies Inc. trimmed its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,741 shares of the bank's stock after selling 85,099 shares during the quarter. American Century Companies Inc. owned 0.40% of First Foundation worth $1,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of First Foundation during the fourth quarter worth $489,000. Dimensional Fund Advisors LP grew its stake in shares of First Foundation by 19.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank's stock worth $14,711,000 after buying an additional 379,288 shares during the last quarter. Royce & Associates LP grew its stake in shares of First Foundation by 13.7% during the first quarter. Royce & Associates LP now owns 1,452,919 shares of the bank's stock worth $7,541,000 after buying an additional 175,300 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of First Foundation by 34.3% during the fourth quarter. Wells Fargo & Company MN now owns 35,393 shares of the bank's stock worth $220,000 after buying an additional 9,030 shares during the last quarter. Finally, Fortress Investment Group LLC grew its stake in shares of First Foundation by 21.5% during the fourth quarter. Fortress Investment Group LLC now owns 4,038,750 shares of the bank's stock worth $25,081,000 after buying an additional 714,000 shares during the last quarter. Institutional investors own 73.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group set a $7.00 price target on shares of First Foundation and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Finally, Piper Sandler cut their price target on shares of First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.25.

First Foundation Stock Up 0.1%

Shares of FFWM stock traded up $0.01 on Friday, reaching $6.10. 1,037,766 shares of the company were exchanged, compared to its average volume of 724,901. The company has a market cap of $502.14 million, a price-to-earnings ratio of -4.55 and a beta of 1.04. The company has a 50-day moving average of $5.42 and a 200-day moving average of $5.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation Inc. has a one year low of $4.41 and a one year high of $8.52.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.