Azora Capital LP Boosts Holdings in First Foundation Inc. (NASDAQ:FFWM)

Azora Capital LP increased its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,090,296 shares of the bank's stock after purchasing an additional 332,252 shares during the quarter. First Foundation makes up approximately 1.4% of Azora Capital LP's portfolio, making the stock its 24th biggest holding. Azora Capital LP owned 4.97% of First Foundation worth $25,523,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Creative Planning lifted its stake in shares of First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank's stock valued at $103,000 after buying an additional 4,336 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of First Foundation during the third quarter worth $104,000. Boston Partners bought a new position in shares of First Foundation in the first quarter worth $128,000. Hollencrest Capital Management grew its position in shares of First Foundation by 76.5% in the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank's stock valued at $124,000 after purchasing an additional 8,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank's stock valued at $136,000 after purchasing an additional 1,632 shares during the period. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Price Performance

Shares of NASDAQ FFWM traded up $0.06 during mid-day trading on Monday, reaching $8.01. 436,650 shares of the company were exchanged, compared to its average volume of 606,332. First Foundation Inc. has a 52 week low of $4.84 and a 52 week high of $11.47. The company's 50 day moving average price is $7.23 and its 200 day moving average price is $6.57. The stock has a market capitalization of $659.62 million, a PE ratio of -7.10 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Wall Street Analysts Forecast Growth

FFWM has been the subject of several analyst reports. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Stephens downgraded shares of First Foundation from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, First Foundation has an average rating of "Hold" and an average target price of $7.80.

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.