Charles Schwab Investment Management Inc. Raises Holdings in First Foundation Inc. (NASDAQ:FFWM)

Charles Schwab Investment Management Inc. lifted its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 614,147 shares of the bank's stock after purchasing an additional 110,323 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of First Foundation worth $3,814,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FFWM. Y Intercept Hong Kong Ltd purchased a new stake in First Foundation during the third quarter valued at approximately $72,000. HighTower Advisors LLC bought a new position in shares of First Foundation during the 3rd quarter valued at approximately $87,000. Intech Investment Management LLC purchased a new stake in First Foundation during the 3rd quarter valued at $104,000. Proficio Capital Partners LLC bought a new stake in First Foundation in the fourth quarter worth $123,000. Finally, The Manufacturers Life Insurance Company boosted its stake in First Foundation by 12.4% during the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank's stock worth $146,000 after buying an additional 2,579 shares during the period. Institutional investors own 73.10% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price 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 analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.75.

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First Foundation Trading Up 0.1 %

Shares of FFWM stock traded up $0.00 on Friday, reaching $4.95. 536,243 shares of the company's stock were exchanged, compared to its average volume of 566,499. The company's fifty day simple moving average is $5.23 and its 200 day simple moving average is $6.34. First Foundation Inc. has a 52 week low of $4.52 and a 52 week high of $8.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $407.95 million, a PE ratio of -3.70 and a beta of 1.35.

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.