HighTower Advisors LLC Invests $87,000 in First Foundation Inc. (NASDAQ:FFWM)

HighTower Advisors LLC acquired a new stake in shares of First Foundation Inc. (NASDAQ:FFWM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,073 shares of the bank’s stock, valued at approximately $87,000.

A number of other hedge funds also recently bought and sold shares of the company. Creative Planning grew its position in First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after acquiring an additional 4,336 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of First Foundation in the 3rd quarter valued at $104,000. Hollencrest Capital Management grew its holdings in shares of First Foundation by 76.5% during the 3rd 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 during the last quarter. The Manufacturers Life Insurance Company raised its position in First Foundation by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in First Foundation by 28.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank’s stock worth $173,000 after purchasing an additional 5,790 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

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

First Foundation Price Performance

FFWM stock opened at $6.04 on Friday. The stock has a market capitalization of $497.48 million, a price-to-earnings ratio of -5.39 and a beta of 1.34. The firm’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $6.71. 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 12-month low of $4.84 and a 12-month high of $11.47.

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.