First Foundation (NASDAQ:FFWM) Share Price Passes Above 50 Day Moving Average - Should You Sell?

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)'s share price 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 Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on 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 investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $6.25.

First Foundation Trading Down 2.6%

The company has a 50-day simple moving average of $5.50 and a 200 day simple moving average of $5.24. The firm has a market cap of $478.25 million, a PE ratio of -4.33 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in First Foundation during the first quarter valued at $25,000. GAMMA Investing LLC lifted its position 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 position in shares of First Foundation in the fourth quarter valued at approximately $48,000. Moran Wealth Management LLC purchased a new position in shares of First Foundation in the first quarter valued at approximately $55,000. Finally, Inceptionr LLC purchased a new position in shares of First Foundation in the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 73.10% of the company's stock.

About First Foundation

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.