Farther Finance Advisors LLC Boosts Position in First Foundation Inc. (NASDAQ:FFWM)

Farther Finance Advisors LLC grew its holdings in First Foundation Inc. (NASDAQ:FFWM) by 665.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,089 shares of the bank’s stock after acquiring an additional 4,424 shares during the period. Farther Finance Advisors LLC’s holdings in First Foundation were worth $32,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FFWM. Raymond James Financial Inc. acquired a new stake in First Foundation during the fourth quarter worth about $489,000. Proficio Capital Partners LLC purchased a new stake in First Foundation in the 4th quarter worth approximately $123,000. Cornerstone Investment Partners LLC acquired a new stake in shares of First Foundation during the 4th quarter worth approximately $162,000. Charles Schwab Investment Management Inc. increased its holdings in shares of First Foundation by 21.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank’s stock valued at $3,814,000 after purchasing an additional 110,323 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of First Foundation by 23.4% in the 4th quarter. Bank of New York Mellon Corp now owns 190,603 shares of the bank’s stock valued at $1,184,000 after purchasing an additional 36,109 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Analyst Ratings Changes

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

First Foundation Stock Up 1.8 %

First Foundation stock opened at $4.92 on Tuesday. 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 has a market capitalization of $404.82 million, a PE ratio of -3.67 and a beta of 1.35. The business has a 50 day simple moving average of $5.33 and a 200-day simple moving average of $6.39. First Foundation Inc. has a 12 month low of $4.52 and a 12 month high of $8.52.

About First Foundation

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.