First Foundation Inc. (NASDAQ:FFWM) Stock Holdings Lowered by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 41.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,818 shares of the bank’s stock after selling 402,386 shares during the period. Franklin Resources Inc. owned approximately 0.68% of First Foundation worth $3,487,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,632 shares during the last quarter. Empowered Funds LLC boosted its position in shares of First Foundation by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 52,660 shares of the bank’s stock valued at $329,000 after purchasing an additional 2,680 shares during the period. Creative Planning increased its stake in First Foundation by 35.8% in the 3rd 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. Thrivent Financial for Lutherans boosted its holdings in shares of First Foundation by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank’s stock worth $829,000 after buying an additional 4,820 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of First Foundation by 28.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank’s stock valued at $173,000 after acquiring an additional 5,790 shares during the period. 73.10% of the stock is currently owned by institutional investors.

First Foundation Trading Up 0.2 %

First Foundation stock opened at $5.96 on Wednesday. First Foundation Inc. has a 12 month low of $4.84 and a 12 month high of $11.47. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The stock has a market cap of $490.90 million, a P/E ratio of -5.32 and a beta of 1.34. The company’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $6.72.

Analysts Set New Price Targets

FFWM has been the subject of a number of recent analyst reports. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, First Foundation presently has an average rating of “Hold” and a consensus price target of $7.80.

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.