Raymond James Financial Inc. Invests $489,000 in First Foundation Inc. (NASDAQ:FFWM)

Raymond James Financial Inc. bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 78,673 shares of the bank's stock, valued at approximately $489,000. Raymond James Financial Inc. owned approximately 0.10% of First Foundation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new stake in First Foundation in the 4th quarter worth approximately $30,000. Farther Finance Advisors LLC grew its holdings in shares of First Foundation by 665.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock valued at $32,000 after purchasing an additional 4,424 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in First Foundation in the 4th quarter valued at about $91,000. Virtu Financial LLC acquired a new position in shares of First Foundation during the fourth quarter valued at $116,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of First Foundation in the 4th quarter worth $123,000. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Trading Up 3.1 %

NASDAQ FFWM traded up $0.16 on Friday, hitting $5.37. The company's stock had a trading volume of 586,734 shares, compared to its average volume of 634,042. The firm has a market cap of $442.41 million, a P/E ratio of -4.01 and a beta of 1.01. The company's 50-day simple moving average is $4.94 and its 200 day simple moving average is $5.95. First Foundation Inc. has a 52-week low of $4.42 and a 52-week high of $8.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Analyst Ratings Changes

A number of brokerages have issued reports on FFWM. Piper Sandler decreased their target price on shares of 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 lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.75.

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.