Intech Investment Management LLC Makes New Investment in First Foundation Inc. (NASDAQ:FFWM)

Intech Investment Management LLC bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,743 shares of the bank’s stock, valued at approximately $104,000.

Other hedge funds have also recently bought and sold shares of the company. Royce & Associates LP grew its position in shares of First Foundation by 143.7% in the third quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after purchasing an additional 506,956 shares during the last quarter. Mendon Capital Advisors Corp grew its position in shares of First Foundation by 144.3% in the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock valued at $4,236,000 after purchasing an additional 381,946 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of First Foundation in the second quarter valued at about $1,870,000. Thrivent Financial for Lutherans acquired a new stake in shares of First Foundation in the second quarter valued at about $838,000. Finally, AQR Capital Management LLC grew its position in shares of First Foundation by 65.4% in the second quarter. AQR Capital Management LLC now owns 253,119 shares of the bank’s stock valued at $1,658,000 after purchasing an additional 100,070 shares during the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Stock Up 0.3 %

FFWM stock opened at $7.78 on Friday. First Foundation Inc. has a twelve month low of $4.84 and a twelve month high of $11.47. The company has a market cap of $640.68 million, a PE ratio of -6.95 and a beta of 1.34. The business’s 50-day simple moving average is $7.39 and its 200 day simple moving average is $6.63. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FFWM. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One 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’s stock. According to MarketBeat, First Foundation has an average rating of “Hold” and a consensus 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.