Geode Capital Management LLC Boosts Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

Geode Capital Management LLC boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 21.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,416,963 shares of the bank’s stock after buying an additional 249,237 shares during the quarter. Geode Capital Management LLC’s holdings in First Foundation were worth $8,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of First Foundation during the 3rd quarter worth about $72,000. HighTower Advisors LLC acquired a new position in First Foundation in the 3rd quarter worth about $87,000. Creative Planning boosted its position in First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after purchasing an additional 4,336 shares in the last quarter. Intech Investment Management LLC acquired a new stake in First Foundation in the third quarter valued at approximately $104,000. Finally, Hollencrest Capital Management increased its position in shares of First Foundation by 76.5% in the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after buying an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in 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 report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.80.

First Foundation Price Performance

First Foundation stock opened at $6.21 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a fifty day simple moving average of $7.27 and a 200-day simple moving average of $6.72. The stock has a market cap of $511.49 million, a P/E ratio of -5.54 and a beta of 1.34. First Foundation Inc. has a 12-month low of $4.84 and a 12-month high of $11.47.

First Foundation 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.