First Foundation (NASDAQ:FFWM) Share Price Passes Above 50-Day Moving Average - Here's Why

Shares of First Foundation Inc. (NASDAQ:FFWM - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.28 and traded as high as $5.39. First Foundation shares last traded at $5.36, with a volume of 634,557 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group set a $7.00 target price on First Foundation and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen downgraded First Foundation from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th.

First Foundation Trading Down 0.7%

The stock has a market cap of $406.57 million, a P/E ratio of -3.68 and a beta of 0.97. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The stock's fifty day moving average is $5.27 and its 200 day moving average is $5.23.

Institutional Trading of First Foundation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its stake in First Foundation by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 152,141 shares of the bank's stock worth $776,000 after purchasing an additional 2,806 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in First Foundation by 28.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 618,288 shares of the bank's stock valued at $3,209,000 after acquiring an additional 136,308 shares during the period. Mendon Capital Advisors Corp grew its position in First Foundation by 23.2% in the 1st quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank's stock valued at $2,389,000 after acquiring an additional 86,675 shares in the last quarter. Jane Street Group LLC lifted its position in shares of First Foundation by 273.2% during the first quarter. Jane Street Group LLC now owns 110,230 shares of the bank's stock worth $572,000 after purchasing an additional 80,696 shares in the last quarter. Finally, EJF Capital LLC increased its position in shares of First Foundation by 53.3% during the first quarter. EJF Capital LLC now owns 265,378 shares of the bank's stock worth $1,377,000 after acquiring an additional 92,212 shares during the period. Institutional investors and hedge funds own 73.10% of the company's stock.

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.