First Foundation (NASDAQ:FFWM) Stock Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• First Foundation Inc. (NASDAQ:FFWM) shares have crossed above their 50-day moving average of $5.49, trading as high as $6.16, with the latest price at $5.84 on a volume of 818,723 shares.
• Analyst opinions are mixed; Piper Sandler has a "neutral" rating with a decreased target of $5.50, while Jefferies Financial Group maintains a "buy" rating with a $7.00 target price.
• Institutional investors hold 73.10% of First Foundation's stock, indicating significant interest from hedge funds and other large investors.

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 $5.49 and traded as high as $6.16. First Foundation shares last traded at $5.84, with a volume of 818,723 shares changing hands.

Wall Street Analyst Weigh In

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

First Foundation Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market cap of $478.25 million, a PE ratio of -4.33 and a beta of 1.04. The firm has a 50 day moving average of $5.50 and a two-hundred day moving average of $5.24.

Institutional Trading of First Foundation

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its stake in First Foundation by 13.7% during the 1st quarter. Royce & Associates LP now owns 1,452,919 shares of the bank's stock valued at $7,541,000 after purchasing an additional 175,300 shares during the last quarter. EJF Capital LLC boosted its stake in First Foundation by 53.3% during the 1st quarter. EJF Capital LLC now owns 265,378 shares of the bank's stock valued at $1,377,000 after purchasing an additional 92,212 shares during the last quarter. Curi RMB Capital LLC boosted its stake in First Foundation by 26.8% during the 1st quarter. Curi RMB Capital LLC now owns 400,000 shares of the bank's stock valued at $2,076,000 after purchasing an additional 84,500 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in First Foundation by 23.2% during the 1st quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank's stock valued at $2,389,000 after purchasing an additional 86,675 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of First Foundation during the 1st quarter valued at $1,166,000. 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.