Elizabeth Park Capital Advisors Ltd. Has $216,000 Position in First Foundation Inc. $FFWM

Key Points

• Elizabeth Park Capital Advisors Ltd. significantly reduced its stake in First Foundation Inc. by 85.3% in Q1, leaving it with a position worth $216,000.
• Multiple institutional investors, including Dimensional Fund Advisors and Wells Fargo, have increased their holdings in First Foundation, which is now 73.10% owned by such investors.
• Wall Street analysts have mixed ratings on First Foundation, with a current average rating of "Hold" and a target price of $6.25, down from previous estimates by some analysts.

Elizabeth Park Capital Advisors Ltd. reduced its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 85.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,631 shares of the bank's stock after selling 240,705 shares during the period. Elizabeth Park Capital Advisors Ltd. owned about 0.05% of First Foundation worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of First Foundation in the 4th quarter valued at approximately $489,000. Dimensional Fund Advisors LP boosted its stake in shares of First Foundation by 19.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank's stock valued at $14,711,000 after purchasing an additional 379,288 shares in the last quarter. Royce & Associates LP boosted its stake in shares of First Foundation by 13.7% in the 1st quarter. Royce & Associates LP now owns 1,452,919 shares of the bank's stock valued at $7,541,000 after purchasing an additional 175,300 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of First Foundation by 34.3% in the 4th quarter. Wells Fargo & Company MN now owns 35,393 shares of the bank's stock valued at $220,000 after purchasing an additional 9,030 shares in the last quarter. Finally, Fortress Investment Group LLC boosted its stake in shares of First Foundation by 21.5% in the 4th quarter. Fortress Investment Group LLC now owns 4,038,750 shares of the bank's stock valued at $25,081,000 after purchasing an additional 714,000 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Up 2.2%

NASDAQ:FFWM opened at $5.95 on Wednesday. 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. The firm's 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.14. The company has a market cap of $490.20 million, a PE ratio of -4.44 and a beta of 1.00.

Wall Street Analysts Forecast Growth

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

First Foundation 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.

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