First Foundation (NASDAQ:FFWM) Stock Price Up 3.7% - Time to Buy?

First Foundation Inc. (NASDAQ:FFWM - Get Free Report)'s stock price shot up 3.7% during trading on Friday . The stock traded as high as $6.21 and last traded at $6.21. 142,754 shares were traded during mid-day trading, a decline of 76% from the average session volume of 593,650 shares. The stock had previously closed at $5.99.

Analyst Ratings Changes

A number of research analysts recently commented on FFWM shares. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Stephens cut First Foundation from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.80.

First Foundation Price Performance

The stock has a market cap of $511.49 million, a price-to-earnings ratio of -5.54 and a beta of 1.34. The company has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $6.70. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Hedge Funds Weigh In On First Foundation

Several large investors have recently added to or reduced their stakes in FFWM. SG Americas Securities LLC acquired a new position in shares of First Foundation in the 2nd quarter valued at about $162,000. Bank of New York Mellon Corp boosted its stake in First Foundation by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 188,112 shares of the bank's stock valued at $1,232,000 after acquiring an additional 15,190 shares during the period. Modera Wealth Management LLC bought a new position in shares of First Foundation during the second quarter valued at approximately $1,870,000. American Century Companies Inc. grew its holdings in shares of First Foundation by 1.5% during the second quarter. American Century Companies Inc. now owns 500,490 shares of the bank's stock valued at $3,278,000 after purchasing an additional 7,302 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of First Foundation by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank's stock worth $12,294,000 after purchasing an additional 24,440 shares during the period. 73.10% of the stock is currently owned by institutional investors.

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.