First Foundation (NASDAQ:FFWM) Stock Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• First Foundation Inc. (NASDAQ:FFWM) shares have traded below their 50-day moving average of $5.69, with the stock recently hitting a low of $5.54 during trading.
• Piper Sandler has reduced its price target for First Foundation from $6.00 to $5.50, suggesting a "neutral" rating, while the consensus rating remains a "Moderate Buy" with a target price of $6.25.
• Institutional investors hold a significant share of First Foundation, owning approximately 73.10% of the company's stock, with notable increases in stakes by several hedge funds and asset management firms.

Shares of First Foundation Inc. (NASDAQ:FFWM - Get Free Report) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.69 and traded as low as $5.54. First Foundation shares last traded at $5.69, with a volume of 818,619 shares traded.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price target on shares of First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

First Foundation Price Performance

The business has a 50 day moving average of $5.69 and a 200 day moving average of $5.34. The company has a market cap of $468.36 million, a PE ratio of -4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Institutional Trading of First Foundation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in First Foundation in the third quarter worth $134,000. Rafferty Asset Management LLC lifted its stake in First Foundation by 26.4% in the second quarter. Rafferty Asset Management LLC now owns 106,587 shares of the bank's stock worth $544,000 after acquiring an additional 22,236 shares during the period. BNP Paribas Financial Markets lifted its stake in First Foundation by 256.5% in the second quarter. BNP Paribas Financial Markets now owns 85,550 shares of the bank's stock worth $436,000 after acquiring an additional 61,553 shares during the period. Bank of America Corp DE lifted its position in First Foundation by 30.7% during the second quarter. Bank of America Corp DE now owns 249,727 shares of the bank's stock valued at $1,274,000 after buying an additional 58,596 shares during the period. Finally, FJ Capital Management LLC lifted its position in First Foundation by 964.2% during the second quarter. FJ Capital Management LLC now owns 1,478,574 shares of the bank's stock valued at $7,541,000 after buying an additional 1,339,637 shares during the period. Hedge funds and other institutional investors 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.

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