First Foundation Inc. (NASDAQ:FFWM) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 33.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,210 shares of the bank’s stock after buying an additional 12,586 shares during the period. JPMorgan Chase & Co. owned 0.06% of First Foundation worth $313,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of First Foundation during the third quarter worth approximately $72,000. HighTower Advisors LLC purchased a new position in First Foundation during the 3rd quarter worth $87,000. Creative Planning increased its stake in First Foundation by 35.8% in the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares during the period. Intech Investment Management LLC purchased a new stake in shares of First Foundation in the third quarter valued at about $104,000. Finally, Hollencrest Capital Management boosted its stake in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock worth $124,000 after buying an additional 8,600 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Stock Performance

Shares of FFWM stock opened at $5.47 on Friday. 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 stock has a market cap of $450.34 million, a PE ratio of -4.88 and a beta of 1.37. First Foundation Inc. has a 1 year low of $4.84 and a 1 year high of $10.33. The stock has a fifty day moving average price of $6.74 and a 200 day moving average price of $6.79.

Analyst Ratings Changes

Separately, StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, First Foundation has an average rating of “Hold” and a consensus target price of $6.75.

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.