First Foundation (NASDAQ:FFWM) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of First Foundation (NASDAQ:FFWM) from a sell rating to a hold rating in a research report report published on Thursday.

Separately, Piper Sandler decreased their target price on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Stock Down 7.3 %

Shares of FFWM stock opened at $4.64 on Thursday. The company’s fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $6.22. First Foundation has a 52 week low of $4.42 and a 52 week high of $8.52. The stock has a market cap of $381.76 million, a P/E ratio of -3.46 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Hedge Funds Weigh In On First Foundation

Several institutional investors have recently bought and sold shares of FFWM. North Reef Capital Management LP raised its position in shares of First Foundation by 182.7% during the 4th quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank’s stock valued at $27,242,000 after buying an additional 2,835,000 shares in the last quarter. Azora Capital LP increased its stake in First Foundation by 1.6% during the fourth quarter. Azora Capital LP now owns 4,153,917 shares of the bank’s stock worth $25,796,000 after acquiring an additional 63,621 shares during the last quarter. Fortress Investment Group LLC raised its position in First Foundation by 21.5% during the fourth quarter. Fortress Investment Group LLC now owns 4,038,750 shares of the bank’s stock valued at $25,081,000 after purchasing an additional 714,000 shares during the period. Vanguard Group Inc. lifted 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 valued at $23,752,000 after purchasing an additional 774,844 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of First Foundation by 19.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank’s stock worth $14,711,000 after purchasing an additional 379,288 shares during the period. 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.