Azora Capital LP Has $4.52 Million Stock Holdings in First Foundation Inc. $FFWM

Key Points

• Azora Capital LP significantly reduced its stake in First Foundation Inc. by 79%, now owning 871,559 shares after selling 3,282,358 shares during the quarter.
• Equities research analysts have issued mixed ratings on First Foundation, with one buy rating and two hold ratings, presenting a consensus price target of $6.25.
• As of the latest update, First Foundation stock is trading at $5.97, reflecting a market cap of $491.84 million, with a 52-week low of $4.41 and a high of $8.52.

Azora Capital LP cut its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 79.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 871,559 shares of the bank's stock after selling 3,282,358 shares during the quarter. Azora Capital LP owned 1.06% of First Foundation worth $4,523,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FFWM. Wells Fargo & Company MN boosted its stake in shares of First Foundation by 34.3% in the fourth quarter. Wells Fargo & Company MN now owns 35,393 shares of the bank's stock valued at $220,000 after buying an additional 9,030 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in First Foundation during the fourth quarter worth $489,000. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 379,288 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in First Foundation by 18.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,459 shares of the bank's stock worth $152,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in First Foundation by 42.8% during the fourth quarter. Nebula Research & Development LLC now owns 24,429 shares of the bank's stock worth $152,000 after purchasing an additional 7,318 shares in the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

First Foundation Stock Performance

FFWM traded up $0.03 during trading hours on Thursday, hitting $6.01. The company's stock had a trading volume of 214,012 shares, compared to its average volume of 721,120. First Foundation Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $8.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $494.73 million, a PE ratio of -4.48 and a beta of 1.04. The company has a 50-day simple moving average of $5.38 and a 200 day simple moving average of $5.17.

Analyst Upgrades and Downgrades

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

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.