Fmr LLC Boosts Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Fmr LLC lifted its position in First Foundation Inc. (NASDAQ:FFWM) by 20.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,099,900 shares of the bank’s stock after purchasing an additional 1,019,484 shares during the quarter. Fmr LLC owned about 0.07% of First Foundation worth $38,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in First Foundation by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock worth $21,592,000 after buying an additional 31,026 shares during the last quarter. Simplicity Wealth LLC purchased a new position in shares of First Foundation during the second quarter worth $196,000. SG Americas Securities LLC purchased a new stake in First Foundation in the second quarter valued at $162,000. Bank of New York Mellon Corp grew its position in First Foundation by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 188,112 shares of the bank’s stock worth $1,232,000 after purchasing an additional 15,190 shares during the period. Finally, Modera Wealth Management LLC purchased a new position in shares of First Foundation during the 2nd quarter valued at about $1,870,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens lowered First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.80.

First Foundation Stock Performance

Shares of FFWM stock opened at $7.78 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12-month low of $4.84 and a 12-month high of $11.47. The business’s 50 day moving average is $7.39 and its two-hundred day moving average is $6.63. The company has a market capitalization of $640.80 million, a P/E ratio of -6.95 and a beta of 1.34.

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.