Vanguard Group Inc. boosted its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,141,752 shares of the bank's stock after purchasing an additional 316,949 shares during the quarter. Vanguard Group Inc. owned about 5.03% of First Foundation worth $21,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of FFWM. Cloud Capital Management LLC bought a new position in shares of First Foundation in the 1st quarter worth $25,000. GAMMA Investing LLC increased its holdings in shares of First Foundation by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 5,039 shares of the bank's stock worth $26,000 after buying an additional 2,387 shares during the last quarter. State of Wyoming bought a new position in shares of First Foundation in the 4th quarter worth $48,000. Moran Wealth Management LLC bought a new position in shares of First Foundation in the 1st quarter worth $55,000. Finally, ProShare Advisors LLC increased its holdings in shares of First Foundation by 50.9% in the 4th quarter. ProShare Advisors LLC now owns 17,915 shares of the bank's stock worth $111,000 after buying an additional 6,043 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
First Foundation Trading Up 1.9%
Shares of FFWM stock traded up $0.11 on Monday, hitting $5.97. 637,540 shares of the company's stock traded hands, compared to its average volume of 725,742. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. First Foundation Inc. has a one year low of $4.41 and a one year high of $8.52. The company's fifty day simple moving average is $5.35 and its 200 day simple moving average is $5.16. The stock has a market capitalization of $491.84 million, a price-to-earnings ratio of -4.46 and a beta of 1.00.
Analysts Set New Price Targets
A number of brokerages have recently commented on FFWM. Piper Sandler decreased their price target on shares of First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Friday, August 1st. Wall Street Zen lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group set a $7.00 price target on shares of First Foundation and gave the stock a "buy" rating in a report 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.25.
Check Out Our Latest Report on FFWM
First Foundation Profile
(
Free Report)
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.
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