Y Intercept Hong Kong Ltd Buys New Position in First Foundation Inc. (NASDAQ:FFWM)

Y Intercept Hong Kong Ltd acquired a new stake in First Foundation Inc. (NASDAQ:FFWM) during the third quarter, Holdings Channel reports. The institutional investor acquired 11,461 shares of the bank’s stock, valued at approximately $72,000.

A number of other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC acquired a new stake in First Foundation in the 3rd quarter valued at $87,000. Creative Planning grew its holdings in shares of First Foundation by 35.8% in the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after acquiring an additional 4,336 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of First Foundation in the third quarter valued at about $104,000. Hollencrest Capital Management raised its holdings in First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock worth $124,000 after acquiring an additional 8,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

First Foundation Trading Down 5.5 %

Shares of First Foundation stock opened at $5.99 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The business has a fifty day simple moving average of $7.52 and a two-hundred day simple moving average of $6.70. First Foundation Inc. has a 1 year low of $4.84 and a 1 year high of $11.47. The company has a market capitalization of $493.37 million, a price-to-earnings ratio of -5.35 and a beta of 1.34.

Analyst Upgrades and Downgrades

FFWM has been the subject of several analyst reports. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.80.

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.