Federated Hermes Inc. Grows Stake in First Foundation Inc. (NASDAQ:FFWM)

Federated Hermes Inc. boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 283.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 564,167 shares of the bank's stock after purchasing an additional 417,044 shares during the quarter. Federated Hermes Inc. owned about 0.69% of First Foundation worth $3,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FFWM. Wells Fargo & Company MN lifted its stake in shares of First Foundation by 34.3% in the fourth quarter. Wells Fargo & Company MN now owns 35,393 shares of the bank's stock worth $220,000 after buying an additional 9,030 shares in the last quarter. Geode Capital Management LLC raised its holdings in First Foundation by 12.5% in 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 during the last quarter. JPMorgan Chase & Co. lifted its position in First Foundation by 234.5% in the 4th quarter. JPMorgan Chase & Co. now owns 167,940 shares of the bank's stock valued at $1,043,000 after acquiring an additional 117,730 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Foundation by 25.4% during the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock valued at $23,752,000 after purchasing an additional 774,844 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of First Foundation in the 4th quarter worth $91,000. 73.10% of the stock is currently owned by institutional investors.

First Foundation Stock Performance

Shares of FFWM stock traded up $0.12 during trading hours on Friday, reaching $4.97. 1,106,931 shares of the company traded hands, compared to its average volume of 615,169. 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 12-month low of $4.42 and a 12-month high of $8.52. The company has a market cap of $408.94 million, a P/E ratio of -3.71 and a beta of 1.19. The firm has a 50-day moving average price of $4.95 and a 200 day moving average price of $6.17.

Wall Street Analyst Weigh In

FFWM has been the topic of a number of research analyst reports. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a report on Friday. 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 report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.75.

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.