Shares of First Foundation Inc. (NASDAQ:FFWM - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.59 and traded as low as $4.96. First Foundation shares last traded at $5.07, with a volume of 530,393 shares trading hands.
A number of research firms have commented on FFWM. Piper Sandler cut their price objective on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. StockNews.com cut shares of First Foundation from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. One 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 MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.75.
View Our Latest Research Report on First Foundation
The company's 50 day moving average is $5.70 and its 200 day moving average is $6.59. 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 stock has a market capitalization of $417.18 million, a price-to-earnings ratio of -3.78 and a beta of 1.35.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in First Foundation by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank's stock worth $3,144,000 after acquiring an additional 90,612 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in First Foundation during the 4th quarter worth $775,000. Strategic Value Bank Partners LLC raised its stake in First Foundation by 115.3% during the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank's stock worth $18,086,000 after acquiring an additional 1,551,861 shares in the last quarter. Geode Capital Management LLC raised its stake in First Foundation by 21.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank's stock worth $8,844,000 after acquiring an additional 249,237 shares in the last quarter. Finally, FMR LLC increased its stake in First Foundation by 20.1% in the third quarter. FMR LLC now owns 6,099,900 shares of the bank's stock valued at $38,063,000 after purchasing an additional 1,019,484 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.
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.
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