First Foundation Inc. (NASDAQ:FFWM) Shares Purchased by Fmr LLC

FMR LLC grew its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,099,900 shares of the bank's stock after acquiring an additional 1,019,484 shares during the quarter. FMR LLC owned about 7.41% of First Foundation worth $38,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its stake in shares of 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 acquiring an additional 4,336 shares during the period. Intech Investment Management LLC purchased a new stake in shares of First Foundation in the third quarter valued at $104,000. Hollencrest Capital Management raised its stake 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 acquiring an additional 8,600 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 acquiring an additional 1,632 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of First Foundation by 12.4% in the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank's stock valued at $146,000 after acquiring an additional 2,579 shares during the period. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Stock Performance

NASDAQ FFWM traded down $0.01 on Monday, hitting $7.77. 366,799 shares of the company's stock traded hands, compared to its average volume of 601,467. 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's 50-day moving average price is $7.39 and its two-hundred day moving average price is $6.63. The firm has a market capitalization of $639.94 million, a PE ratio of 45.76 and a beta of 1.34.

Analyst Ratings Changes

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

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.