Proficio Capital Partners LLC Makes New Investment in First Foundation Inc. (NASDAQ:FFWM)

Proficio Capital Partners LLC bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,882 shares of the bank’s stock, valued at approximately $123,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of First Foundation in the 3rd quarter valued at approximately $72,000. HighTower Advisors LLC purchased a new stake in shares of First Foundation during the third quarter worth about $87,000. Creative Planning raised its holdings in First Foundation by 35.8% in the 3rd 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 position in First Foundation during the third quarter worth about $104,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of First Foundation by 12.4% in the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock worth $146,000 after acquiring an additional 2,579 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

First Foundation Price Performance

FFWM opened at $4.78 on Thursday. The company has a fifty day simple moving average of $5.51 and a 200 day simple moving average of $6.51. 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 firm has a market cap of $393.29 million, a price-to-earnings ratio of -3.56 and a beta of 1.35. First Foundation Inc. has a twelve month low of $4.52 and a twelve month high of $8.52.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, First Foundation presently has a consensus rating of “Hold” and a consensus price target of $6.75.

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.