First Foundation (NASDAQ:FFWM) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Shares of First Foundation Inc. crossed above its 50-day moving average of $5.55, trading as high as $5.83 before closing at $5.74.
• Piper Sandler lowered its target price for First Foundation from $6.00 to $5.50, maintaining a "neutral" rating as two analysts have issued Hold ratings.
• Approximately 73.10% of First Foundation's stock is owned by institutional investors, indicating significant interest from larger market players.

Shares of First Foundation Inc. (NASDAQ:FFWM - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.55 and traded as high as $5.83. First Foundation shares last traded at $5.74, with a volume of 467,105 shares traded.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on shares of First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, First Foundation has an average rating of "Hold" and an average target price of $6.25.

First Foundation Price Performance

The company's fifty day moving average is $5.55 and its two-hundred day moving average is $5.27. The stock has a market cap of $472.48 million, a price-to-earnings ratio of -4.28 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Institutional Trading of First Foundation

A number of institutional investors and hedge funds have recently bought and sold shares of FFWM. Cloud Capital Management LLC purchased a new position in First Foundation in the 1st quarter valued at approximately $25,000. GAMMA Investing LLC raised its stake in shares of First Foundation by 90.0% in the first quarter. GAMMA Investing LLC now owns 5,039 shares of the bank's stock valued at $26,000 after acquiring an additional 2,387 shares in the last quarter. State of Wyoming purchased a new stake in First Foundation during the 4th quarter worth about $48,000. Moran Wealth Management LLC purchased a new stake in First Foundation during the 1st quarter worth about $55,000. Finally, Inceptionr LLC purchased a new stake in First Foundation during the 2nd quarter worth about $74,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

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