First Foundation Inc. $FFWM Stake Boosted by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp increased its stake in First Foundation Inc. by 23.2%, owning 460,386 shares after purchasing an additional 86,675 shares in the first quarter.
• Analysts have mixed opinions on the stock, with Piper Sandler lowering its price objective from $6.00 to $5.50 and assigning a "neutral" rating, while Jefferies Financial Group set a "buy" rating with a $7.00 price target.
• First Foundation Inc's shares opened at $5.92, with a market capitalization of $487.40 million and a current ratio of 1.04.

Mendon Capital Advisors Corp grew its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,386 shares of the bank's stock after purchasing an additional 86,675 shares during the period. First Foundation makes up approximately 1.2% of Mendon Capital Advisors Corp's holdings, making the stock its 27th largest holding. Mendon Capital Advisors Corp owned approximately 0.56% of First Foundation worth $2,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake 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 buying an additional 3,885 shares during the period. Northern Trust Corp boosted its position in First Foundation by 9.6% during the 4th quarter. Northern Trust Corp now owns 596,070 shares of the bank's stock worth $3,702,000 after purchasing an additional 52,121 shares during the period. Bridgeway Capital Management LLC boosted its position in First Foundation by 5.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 55,382 shares of the bank's stock worth $344,000 after purchasing an additional 2,722 shares during the period. Cubist Systematic Strategies LLC increased its holdings in First Foundation by 201.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 153,293 shares of the bank's stock valued at $952,000 after purchasing an additional 102,476 shares in the last quarter. Finally, Graham Capital Management L.P. raised its position in First Foundation by 80.8% in the fourth quarter. Graham Capital Management L.P. now owns 62,862 shares of the bank's stock valued at $390,000 after purchasing an additional 28,085 shares during the period. Institutional investors and hedge funds own 73.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FFWM shares. Jefferies Financial Group set a $7.00 target price on First Foundation and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Piper Sandler lowered their price objective on shares of First Foundation from $6.00 to $5.50 and set a "neutral" rating for the company in a research report on Friday, August 1st. One equities research 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 company presently has a consensus rating of "Hold" and an average price target of $6.25.

First Foundation Stock Down 1.4%

NASDAQ FFWM traded down $0.09 during trading hours on Monday, reaching $5.91. 103,769 shares of the company traded hands, compared to its average volume of 711,583. The stock has a market capitalization of $486.49 million, a PE ratio of -4.41 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12 month low of $4.41 and a 12 month high of $8.52. The company has a 50 day moving average of $5.47 and a two-hundred day moving average of $5.21.

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.