Rhumbline Advisers Purchases 11,262 Shares of First Foundation Inc. (NASDAQ:FFWM)

Rhumbline Advisers lifted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,308 shares of the bank’s stock after purchasing an additional 11,262 shares during the period. Rhumbline Advisers owned 0.11% of First Foundation worth $586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FFWM. Charles Schwab Investment Management Inc. boosted its stake in shares of First Foundation by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock worth $3,144,000 after buying an additional 90,612 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in First Foundation during the fourth quarter worth $775,000. Strategic Value Bank Partners LLC boosted its position in First Foundation by 115.3% in the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock worth $18,086,000 after purchasing an additional 1,551,861 shares during the last quarter. Geode Capital Management LLC grew its stake in First Foundation by 21.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock valued at $8,844,000 after purchasing an additional 249,237 shares during the period. Finally, FMR LLC increased its position 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 valued at $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target on shares of 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 issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.75.

First Foundation Stock Performance

NASDAQ:FFWM opened at $4.79 on Friday. The company has a market capitalization of $394.28 million, a P/E ratio of -3.57 and a beta of 1.35. The business has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $6.55. 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 1 year low of $4.66 and a 1 year 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.