19,882 Shares in First Foundation Inc. (NASDAQ:FFWM) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of First Foundation Inc. (NASDAQ:FFWM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,882 shares of the bank’s stock, valued at approximately $123,000.

Several other large investors have also made changes to their positions in FFWM. Y Intercept Hong Kong Ltd purchased a new position in shares of First Foundation during the third quarter worth $72,000. HighTower Advisors LLC acquired a new stake in First Foundation during the 3rd quarter worth about $87,000. Intech Investment Management LLC purchased a new position in shares of First Foundation during the 3rd quarter valued at about $104,000. The Manufacturers Life Insurance Company lifted its holdings in shares of First Foundation by 12.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock valued at $146,000 after buying an additional 2,579 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of First Foundation in the fourth quarter worth about $162,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

First Foundation Trading Up 0.1 %

Shares of First Foundation stock opened at $4.95 on Friday. First Foundation Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $8.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $407.95 million, a P/E ratio of -3.70 and a beta of 1.35. The firm has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $6.34.

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.