Northern Trust Corp Grows Position in First Foundation Inc. (NASDAQ:FFWM)

Northern Trust Corp raised its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 596,070 shares of the bank's stock after acquiring an additional 52,121 shares during the quarter. Northern Trust Corp owned approximately 0.72% of First Foundation worth $3,702,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. North Reef Capital Management LP lifted its stake in shares of First Foundation by 182.7% in the 4th quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank's stock valued at $27,242,000 after purchasing an additional 2,835,000 shares during the period. Vanguard Group Inc. increased its holdings in First Foundation by 25.4% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Foundation by 19.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank's stock worth $14,711,000 after acquiring an additional 379,288 shares during the period. Geode Capital Management LLC boosted its stake in shares of First Foundation by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 1,593,473 shares of the bank's stock worth $9,898,000 after acquiring an additional 176,510 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of First Foundation by 48.6% during 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 in the last quarter. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Price Performance

NASDAQ:FFWM traded down $0.15 during trading hours on Wednesday, hitting $5.24. 425,805 shares of the stock were exchanged, compared to its average volume of 639,690. The firm's fifty day moving average price is $5.06 and its 200 day moving average price is $5.79. First Foundation Inc. has a 52-week low of $4.42 and a 52-week high of $8.52. The company has a market cap of $431.46 million, a P/E ratio of -3.91 and a beta of 1.01. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Analysts Set New Price Targets

A number of brokerages have issued reports on FFWM. Wall Street Zen downgraded First Foundation from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Jefferies Financial Group set a $7.00 target price on First Foundation and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler dropped their price target on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, First Foundation currently has a consensus rating of "Hold" and an average target price of $6.80.

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.