Ameriprise Financial Inc. Sells 64,620 Shares of First Foundation Inc. (NASDAQ:FFWM)

Ameriprise Financial Inc. lowered its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 297,515 shares of the bank's stock after selling 64,620 shares during the quarter. Ameriprise Financial Inc. owned 0.36% of First Foundation worth $1,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFWM. North Reef Capital Management LP increased its stake in shares of First Foundation by 182.7% in the fourth quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank's stock worth $27,242,000 after buying an additional 2,835,000 shares during the period. Vanguard Group Inc. boosted its position in First Foundation by 25.4% during the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock valued at $23,752,000 after buying an additional 774,844 shares during the period. Royce & Associates LP grew its holdings in First Foundation by 48.6% in the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank's stock worth $7,934,000 after acquiring an additional 417,849 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Foundation by 283.5% in the 4th quarter. Federated Hermes Inc. now owns 564,167 shares of the bank's stock worth $3,503,000 after acquiring an additional 417,044 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of First Foundation in the fourth quarter valued at about $2,462,000. Institutional investors own 73.10% of the company's stock.

First Foundation Trading Up 0.8%

First Foundation stock traded up $0.04 during mid-day trading on Wednesday, reaching $5.10. 770,057 shares of the company traded hands, compared to its average volume of 643,910. 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 52-week low of $4.42 and a 52-week high of $8.52. The firm has a market capitalization of $420.17 million, a price-to-earnings ratio of -3.81 and a beta of 1.01. The firm's 50 day moving average price is $5.08 and its 200 day moving average price is $5.70.

Analyst Ratings Changes

FFWM has been the subject of a number of analyst reports. Jefferies Financial Group set a $7.00 target price on shares of First Foundation and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen lowered First Foundation from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.80.

About First Foundation

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.