Charles Schwab Investment Management Inc. Cuts Stock Position in First Foundation Inc. $FFWM

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in First Foundation Inc. by 9.9%, holding about 0.67% of the company worth approximately $2.87 million as of the latest SEC filing.
• Institutional investors collectively own 73.10% of First Foundation, with significant stake increases from firms like Dimensional Fund Advisors and Wells Fargo.
• Analysts have varying ratings for First Foundation, with a consensus rating of "Hold" and a price target of $6.25, while some analysts have downgraded the stock to "Sell".

Charles Schwab Investment Management Inc. decreased its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,063 shares of the bank's stock after selling 61,084 shares during the period. Charles Schwab Investment Management Inc. owned about 0.67% of First Foundation worth $2,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in First Foundation by 90.0% in the first quarter. GAMMA Investing LLC now owns 5,039 shares of the bank's stock worth $26,000 after purchasing an additional 2,387 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of First Foundation by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 55,382 shares of the bank's stock worth $344,000 after buying an additional 2,722 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of First Foundation by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 149,335 shares of the bank's stock worth $775,000 after buying an additional 2,792 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of First Foundation by 18.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,459 shares of the bank's stock worth $152,000 after buying an additional 3,885 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in shares of First Foundation in the 1st quarter worth approximately $25,000. 73.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FFWM. Wall Street Zen downgraded First Foundation from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Piper Sandler dropped their price target on First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Finally, Jefferies Financial Group set a $7.00 price objective on First Foundation and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.25.

First Foundation Stock Performance

FFWM stock traded up $0.11 during trading on Monday, hitting $5.97. 637,540 shares of the company traded hands, compared to its average volume of 725,742. The stock's 50-day simple moving average is $5.35 and its 200 day simple moving average is $5.16. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $491.84 million, a PE ratio of -4.46 and a beta of 1.00. First Foundation Inc. has a 1 year low of $4.41 and a 1 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.