Geode Capital Management LLC Grows Stake in First Foundation Inc. (NASDAQ:FFWM)

Geode Capital Management LLC raised its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,593,473 shares of the bank's stock after purchasing an additional 176,510 shares during the period. Geode Capital Management LLC owned 1.93% of First Foundation worth $9,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Millstone Evans Group LLC bought a new position in shares of First Foundation in the 4th quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in shares of First Foundation by 665.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock worth $32,000 after acquiring an additional 4,424 shares during the period. HighTower Advisors LLC purchased a new position in shares of First Foundation during the third quarter valued at about $87,000. Fox Run Management L.L.C. bought a new position in shares of First Foundation in the 4th quarter valued at about $91,000. Finally, Virtu Financial LLC purchased a new position in First Foundation during the fourth quarter worth $116,000. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Stock Down 0.8 %

Shares of NASDAQ FFWM traded down $0.04 during trading on Monday, reaching $4.78. 392,741 shares of the stock were exchanged, compared to its average volume of 627,495. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The business's 50-day moving average price is $4.91 and its 200 day moving average price is $6.10. The company has a market capitalization of $393.89 million, a price-to-earnings ratio of -3.56 and a beta of 1.19. First Foundation Inc. has a twelve month low of $4.42 and a twelve month high of $8.52.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler cut their price objective on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $6.75.

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.