North Reef Capital Management LP Boosts Holdings in First Foundation Inc. (NASDAQ:FFWM)

North Reef Capital Management LP lifted its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 182.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,386,861 shares of the bank's stock after purchasing an additional 2,835,000 shares during the quarter. First Foundation comprises approximately 1.2% of North Reef Capital Management LP's holdings, making the stock its 20th largest position. North Reef Capital Management LP owned 5.33% of First Foundation worth $27,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of First Foundation by 25.4% in the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock worth $23,752,000 after buying an additional 774,844 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Foundation by 19.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank's stock valued at $14,711,000 after purchasing an additional 379,288 shares during the period. State Street Corp grew its stake in shares of First Foundation by 2.0% during the 3rd quarter. State Street Corp now owns 1,863,369 shares of the bank's stock valued at $11,627,000 after purchasing an additional 36,338 shares during the period. Geode Capital Management LLC grew its stake in shares of First Foundation by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 1,593,473 shares of the bank's stock valued at $9,898,000 after purchasing an additional 176,510 shares during the period. Finally, Royce & Associates LP grew its stake in shares of First Foundation by 48.6% during the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank's stock valued at $7,934,000 after purchasing an additional 417,849 shares during the period. 73.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FFWM has been the subject of a number of recent research reports. Piper Sandler cut their price target on First Foundation from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded First Foundation from a "sell" rating to a "hold" rating in a research note on Monday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.75.

First Foundation Stock Performance

Shares of NASDAQ:FFWM traded up $0.12 during mid-day trading on Wednesday, reaching $5.09. 388,383 shares of the company traded hands, compared to its average volume of 626,869. The company's 50 day moving average price is $4.90 and its 200-day moving average price is $6.08. The firm has a market cap of $419.34 million, a PE ratio of -3.80 and a beta of 1.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation Inc. has a 52 week low of $4.42 and a 52 week high of $8.52.

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.