Alliancebernstein L.P. Trims Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Alliancebernstein L.P. reduced its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 61.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,542 shares of the bank's stock after selling 381,883 shares during the period. Alliancebernstein L.P. owned approximately 0.29% of First Foundation worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FFWM. Millstone Evans Group LLC acquired a new position in First Foundation in the fourth quarter worth $30,000. Farther Finance Advisors LLC boosted its stake in First Foundation by 665.3% during the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock worth $32,000 after acquiring an additional 4,424 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in First Foundation during the 3rd quarter worth approximately $72,000. HighTower Advisors LLC bought a new position in First Foundation in the third quarter valued at approximately $87,000. Finally, Fox Run Management L.L.C. bought a new position in First Foundation in the fourth quarter valued at approximately $91,000. 73.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. Piper Sandler decreased their price objective 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 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.75.

First Foundation Stock Performance

Shares of NASDAQ:FFWM traded up $0.12 during midday trading on Wednesday, reaching $5.05. 145,396 shares of the company traded hands, compared to its average volume of 618,220. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12 month low of $4.42 and a 12 month high of $8.52. The firm has a market capitalization of $415.94 million, a price-to-earnings ratio of -3.77 and a beta of 1.19. The firm's fifty day moving average price is $4.93 and its two-hundred day moving average price is $6.14.

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.