Nuveen LLC Acquires Shares of 224,739 First Foundation Inc. $FFWM

Nuveen LLC bought a new stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 224,739 shares of the bank's stock, valued at approximately $1,166,000. Nuveen LLC owned about 0.27% of First Foundation as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in First Foundation by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 4,141,752 shares of the bank's stock valued at $21,496,000 after acquiring an additional 316,949 shares in the last quarter. Fortress Investment Group LLC raised its holdings in 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 acquiring an additional 714,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 379,288 shares in the last quarter. Royce & Associates LP raised its holdings in 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 acquiring an additional 175,300 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in First Foundation by 9.6% in the 4th quarter. Northern Trust Corp now owns 596,070 shares of the bank's stock valued at $3,702,000 after acquiring an additional 52,121 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company's stock.

First Foundation Price Performance

Shares of FFWM traded up $0.01 on Friday, hitting $6.10. The company's stock had a trading volume of 1,037,766 shares, compared to its average volume of 724,901. The company has a market capitalization of $502.14 million, a PE ratio of -4.55 and a beta of 1.04. 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 fifty-two week low of $4.41 and a fifty-two week high of $8.52. The company has a 50 day moving average price of $5.42 and a 200 day moving average price of $5.18.

Wall Street Analyst Weigh In

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

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.