Franklin Resources Inc. Reduces Holdings in First Foundation Inc. (NASDAQ:FFWM)

Franklin Resources Inc. decreased its position in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 41.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,818 shares of the bank's stock after selling 402,386 shares during the period. Franklin Resources Inc. owned 0.68% of First Foundation worth $3,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of First Foundation by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank's stock worth $3,144,000 after buying an additional 90,612 shares during the period. Strategic Value Bank Partners LLC raised its stake in First Foundation by 115.3% during the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank's stock valued at $18,086,000 after acquiring an additional 1,551,861 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in First Foundation during the 2nd quarter worth approximately $563,000. FMR LLC lifted its position in First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank's stock worth $38,063,000 after acquiring an additional 1,019,484 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. grew its stake in shares of First Foundation by 26.7% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 463,953 shares of the bank's stock valued at $3,039,000 after purchasing an additional 97,732 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Price Performance

Shares of FFWM traded up $0.01 during mid-day trading on Wednesday, hitting $5.96. The company's stock had a trading volume of 391,221 shares, compared to its average volume of 599,063. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47. The firm has a market capitalization of $490.90 million, a P/E ratio of -5.32 and a beta of 1.34. The firm has a 50-day simple moving average of $7.44 and a 200 day simple moving average of $6.72.

Analyst Ratings Changes

Several research firms have recently commented on FFWM. StockNews.com cut 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 research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, First Foundation currently has an average rating of "Hold" and a consensus price target 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.