Bank of New York Mellon Corp Has $1.18 Million Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

Bank of New York Mellon Corp lifted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,603 shares of the bank’s stock after purchasing an additional 36,109 shares during the quarter. Bank of New York Mellon Corp owned 0.23% of First Foundation worth $1,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in First Foundation during the third quarter worth about $72,000. HighTower Advisors LLC acquired a new stake in shares of First Foundation during the third quarter worth about $87,000. Intech Investment Management LLC bought a new position in shares of First Foundation during the 3rd quarter valued at about $104,000. The Manufacturers Life Insurance Company grew its position 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 purchasing an additional 2,579 shares during the period. Finally, Centiva Capital LP bought a new stake in First Foundation during the 3rd quarter worth approximately $190,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Stock Up 1.8 %

FFWM 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 P/E ratio of -3.67 and a beta of 1.35. First Foundation Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $8.52. The business has a 50-day moving average of $5.33 and a 200-day moving average of $6.39.

Wall Street Analyst Weigh In

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 research note 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation 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.