Charles Schwab Investment Management Inc. boosted its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 21.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,824 shares of the bank's stock after purchasing an additional 90,612 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of First Foundation worth $3,144,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in First Foundation by 8.5% in the second 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. Empowered Funds LLC increased its holdings in First Foundation by 5.4% in the third quarter. Empowered Funds LLC now owns 52,660 shares of the bank's stock valued at $329,000 after purchasing an additional 2,680 shares during the period. Creative Planning increased its holdings 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. Thrivent Financial for Lutherans grew its holdings in First Foundation by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank's stock worth $829,000 after acquiring an additional 4,820 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in First Foundation by 28.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank's stock worth $173,000 after acquiring an additional 5,790 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on FFWM shares. Stephens downgraded First Foundation from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, First Foundation currently has a consensus rating of "Hold" and an average target price of $7.80.
Check Out Our Latest Report on FFWM
First Foundation Stock Down 0.1 %
Shares of FFWM stock traded down $0.01 on Friday, reaching $7.30. 244,132 shares of the company were exchanged, compared to its average volume of 596,631. The company has a market cap of $601.23 million, a price-to-earnings ratio of -6.52 and a beta of 1.34. The company has a 50-day moving average of $7.52 and a 200-day moving average of $6.68. 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 one year low of $4.84 and a one year high of $11.47.
First Foundation Profile
(
Free Report)
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.
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