Charles Schwab Investment Management Inc. Purchases 110,323 Shares of First Foundation Inc. (NASDAQ:FFWM)

Charles Schwab Investment Management Inc. increased its position in First Foundation Inc. (NASDAQ:FFWM) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 614,147 shares of the bank’s stock after buying an additional 110,323 shares during the period. Charles Schwab Investment Management Inc. owned 0.75% of First Foundation worth $3,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock worth $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. Azora Capital LP increased its position in First Foundation by 8.8% during the third quarter. Azora Capital LP now owns 4,090,296 shares of the bank’s stock worth $25,523,000 after buying an additional 332,252 shares during the last quarter. Strategic Value Bank Partners LLC increased its position in First Foundation by 115.3% during the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock worth $18,086,000 after buying an additional 1,551,861 shares during the last quarter. State Street Corp raised its holdings in First Foundation by 2.0% during the third quarter. State Street Corp now owns 1,863,369 shares of the bank’s stock valued at $11,627,000 after buying an additional 36,338 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of First Foundation by 21.3% in the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock worth $8,844,000 after buying an additional 249,237 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Performance

Shares of FFWM opened at $4.93 on Thursday. The company has a market capitalization of $406.39 million, a PE ratio of -3.68 and a beta of 1.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation Inc. has a one year low of $4.52 and a one year high of $8.52. The company’s fifty day moving average price is $5.28 and its 200 day moving average price is $6.36.

Analyst Upgrades and Downgrades

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