Modera Wealth Management LLC Trims Holdings in First Foundation Inc. (NASDAQ:FFWM)

Modera Wealth Management LLC reduced its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 33.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 190,349 shares of the bank’s stock after selling 95,150 shares during the period. Modera Wealth Management LLC’s holdings in First Foundation were worth $1,188,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Creative Planning increased its position in 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 during the period. Caxton Associates LP acquired a new position in shares of First Foundation in the first quarter valued at approximately $123,000. Boston Partners purchased a new stake in shares of First Foundation during the first quarter worth approximately $128,000. The Manufacturers Life Insurance Company lifted its holdings in shares of First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares during the period. Finally, SG Americas Securities LLC purchased a new position in First Foundation in the 2nd quarter valued at $162,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FFWM has been the subject of a number of analyst reports. Raymond James cut shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. Stephens lowered First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Wedbush reduced their price target on First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $6.00 price objective on shares of First Foundation in a report on Wednesday, July 3rd. 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, the stock presently has an average rating of “Hold” and a consensus price target of $7.80.

First Foundation Price Performance

FFWM stock opened at $7.79 on Tuesday. The firm has a 50 day moving average of $6.78 and a 200-day moving average of $6.31. The company has a market cap of $440.23 million, a price-to-earnings ratio of -2.13 and a beta of 1.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation Inc. has a 12-month low of $4.41 and a 12-month high of $11.47.

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.