First Foundation (NASDAQ:FFWM) Shares Up 3.7% – Here’s Why

First Foundation Inc. (NASDAQ:FFWM)’s share price was up 3.7% on Friday . The company traded as high as $6.21 and last traded at $6.21. Approximately 142,754 shares were traded during trading, a decline of 76% from the average daily volume of 593,650 shares. The stock had previously closed at $5.99.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, First Foundation presently has an average rating of “Hold” and a consensus target price of $7.80.

First Foundation Trading Up 5.0 %

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The business has a 50 day moving average of $7.52 and a two-hundred day moving average of $6.70. The firm has a market capitalization of $518.08 million, a price-to-earnings ratio of -5.62 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in First Foundation by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock valued at $3,144,000 after acquiring an additional 90,612 shares in the last quarter. Strategic Value Bank Partners LLC raised its position in First Foundation by 115.3% in the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after buying an additional 1,551,861 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in First Foundation during the 2nd quarter valued at $563,000. FMR LLC boosted its holdings in First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock worth $38,063,000 after acquiring an additional 1,019,484 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. grew its stake in shares of First Foundation by 26.7% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 463,953 shares of the bank’s stock worth $3,039,000 after acquiring an additional 97,732 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

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.