First Foundation Inc. (NASDAQ:FFWM) Position Lessened by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,612 shares of the bank's stock after selling 50,100 shares during the period. Prudential Financial Inc. owned approximately 0.09% of First Foundation worth $482,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in First Foundation by 12.4% in the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank's stock valued at $146,000 after purchasing an additional 2,579 shares during the period. Empowered Funds LLC raised its holdings in shares of First Foundation by 5.2% during the 4th quarter. Empowered Funds LLC now owns 55,382 shares of the bank's stock valued at $344,000 after buying an additional 2,722 shares during the period. SG Americas Securities LLC lifted its position in First Foundation by 5.7% during the 4th quarter. SG Americas Securities LLC now owns 54,309 shares of the bank's stock worth $337,000 after acquiring an additional 2,926 shares in the last quarter. Intech Investment Management LLC lifted its position in First Foundation by 22.7% during the 4th quarter. Intech Investment Management LLC now owns 20,537 shares of the bank's stock worth $128,000 after acquiring an additional 3,794 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in First Foundation by 665.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock valued at $32,000 after acquiring an additional 4,424 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FFWM. Piper Sandler reduced their target price on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. StockNews.com raised shares of First Foundation from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, First Foundation currently has an average rating of "Hold" and an average price target of $6.75.

First Foundation Stock Up 4.4 %

Shares of First Foundation stock traded up $0.21 during trading on Tuesday, reaching $4.95. The company had a trading volume of 184,052 shares, compared to its average volume of 602,819. 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 fifty-two week low of $4.42 and a fifty-two week high of $8.52. The firm's fifty day moving average is $4.98 and its 200-day moving average is $6.20. The company has a market cap of $407.71 million, a price-to-earnings ratio of -3.69 and a beta of 1.19.

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.