Royce & Associates LP Has $7.54 Million Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

Key Points

• Royce & Associates LP increased its stake in First Foundation Inc. by 13.7%, bringing its total shares owned to approximately 1.45 million valued at over $7.5 million.
• JPMorgan Chase & Co. significantly boosted its holdings in First Foundation by 234.5%, now owning 167,940 shares worth about $1.04 million.
• Equities analysts have mixed opinions on the stock, with Jefferies Financial Group setting a $7.00 target price and a "buy" rating, while Wall Street Zen downgraded it to a "sell" rating.

Royce & Associates LP lifted its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,452,919 shares of the bank's stock after acquiring an additional 175,300 shares during the period. Royce & Associates LP owned approximately 1.76% of First Foundation worth $7,541,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. North Reef Capital Management LP grew its stake in First Foundation by 182.7% during the fourth quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank's stock worth $27,242,000 after buying an additional 2,835,000 shares in the last quarter. Vanguard Group Inc. grew its stake in First Foundation by 25.4% during the fourth quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock worth $23,752,000 after buying an additional 774,844 shares in the last quarter. 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. Federated Hermes Inc. boosted its stake in shares of First Foundation by 283.5% in the 4th quarter. Federated Hermes Inc. now owns 564,167 shares of the bank's stock valued at $3,503,000 after purchasing an additional 417,044 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of First Foundation in the 4th quarter valued at approximately $2,462,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Trading Down 0.3%

NASDAQ:FFWM traded down $0.02 during mid-day trading on Wednesday, hitting $4.92. 165,640 shares of the company's stock were exchanged, compared to its average volume of 697,369. The company has a 50 day simple moving average of $5.26 and a 200-day simple moving average of $5.22. 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 fifty-two week low of $4.41 and a fifty-two week high of $8.52. The firm has a market capitalization of $404.93 million, a P/E ratio of -3.67 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FFWM shares. Jefferies Financial Group set a $7.00 price target on shares of First Foundation and gave the company a "buy" rating in a research note on Wednesday, May 21st. Wall Street Zen downgraded shares of First Foundation from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th.

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.