State Street Corp Boosts Stock Position in First Foundation Inc. (NASDAQ:FFWM)

State Street Corp boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,863,369 shares of the bank’s stock after acquiring an additional 36,338 shares during the quarter. State Street Corp owned 2.26% of First Foundation worth $11,627,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in First Foundation by 8.5% during the 2nd 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 during the period. Empowered Funds LLC raised its stake in shares of First Foundation by 5.4% in the third quarter. Empowered Funds LLC now owns 52,660 shares of the bank’s stock valued at $329,000 after acquiring an additional 2,680 shares in the last quarter. Creative Planning boosted its holdings in First Foundation by 35.8% in the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares during the period. Thrivent Financial for Lutherans increased its holdings in First Foundation by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank’s stock worth $829,000 after purchasing an additional 4,820 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in First Foundation by 28.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank’s stock valued at $173,000 after purchasing an additional 5,790 shares in the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FFWM has been the subject of a number of analyst reports. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Stephens cut shares of 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. According to data from MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and an average price target of $7.80.

First Foundation Stock Up 0.2 %

FFWM stock opened at $5.96 on Thursday. 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 has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a twelve month low of $4.84 and a twelve month high of $11.47. The company’s 50 day moving average is $7.44 and its two-hundred day moving average is $6.72.

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.