Empowered Funds LLC Raises Holdings in First Foundation Inc. (NASDAQ:FFWM)

Empowered Funds LLC lifted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,660 shares of the bank’s stock after buying an additional 2,680 shares during the quarter. Empowered Funds LLC owned approximately 0.08% of First Foundation worth $329,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its holdings in First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after acquiring an additional 4,336 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of First Foundation in the 1st quarter worth approximately $123,000. Hollencrest Capital Management boosted its stake in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,600 shares in the last quarter. Boston Partners purchased a new position in First Foundation during the first quarter valued at approximately $128,000. Finally, The Manufacturers Life Insurance Company raised its stake in First Foundation by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after buying an additional 1,632 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Price Performance

NASDAQ FFWM opened at $8.26 on Tuesday. The company has a market cap of $680.21 million, a price-to-earnings ratio of -7.37 and a beta of 1.30. 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 stock’s fifty day moving average price is $7.13 and its 200 day moving average price is $6.50. First Foundation Inc. has a 1 year low of $4.84 and a 1 year high of $11.47.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FFWM. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, First Foundation presently has an average rating of “Hold” and an average price target of $7.80.

First Foundation Company 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.