Fourthstone LLC Takes Position in First Foundation Inc. (NASDAQ:FFWM)

Fourthstone LLC purchased a new stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 188,145 shares of the bank's stock, valued at approximately $1,168,000. Fourthstone LLC owned approximately 0.23% of First Foundation at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FFWM. HighTower Advisors LLC acquired a new position in First Foundation in the 3rd quarter worth about $87,000. State Street Corp lifted its holdings in shares of First Foundation by 2.0% in the 3rd quarter. State Street Corp now owns 1,863,369 shares of the bank's stock worth $11,627,000 after purchasing an additional 36,338 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of First Foundation during the third quarter valued at approximately $72,000. Barclays PLC increased its stake in First Foundation by 30.0% in the 3rd quarter. Barclays PLC now owns 145,932 shares of the bank's stock valued at $911,000 after buying an additional 33,666 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of First Foundation by 21.3% in the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank's stock valued at $8,844,000 after acquiring an additional 249,237 shares in the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Stock Up 1.5 %

Shares of NASDAQ FFWM traded up $0.08 during mid-day trading on Tuesday, reaching $5.01. 162,175 shares of the company were exchanged, compared to its average volume of 661,121. The firm has a 50-day moving average of $4.94 and a 200 day moving average of $6.15. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $8.52. The stock has a market cap of $412.24 million, a price-to-earnings ratio of -3.74 and a beta of 1.19.

Wall Street Analysts Forecast Growth

FFWM has been the topic of a number of research reports. StockNews.com cut First Foundation from a "hold" rating to a "sell" rating in a research note on Friday. Piper Sandler reduced their target price on First Foundation from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.75.

First Foundation 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.