JPMorgan Chase & Co. Boosts Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

JPMorgan Chase & Co. boosted its stake in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 234.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,940 shares of the bank's stock after purchasing an additional 117,730 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of First Foundation worth $1,043,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of First Foundation by 25.4% in the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock valued at $23,752,000 after acquiring an additional 774,844 shares during the period. Geode Capital Management LLC raised its stake in shares of First Foundation by 21.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank's stock valued at $8,844,000 after acquiring an additional 249,237 shares during the period. Royce & Associates LP raised its stake in shares of First Foundation by 48.6% in the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank's stock valued at $7,934,000 after acquiring an additional 417,849 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of First Foundation by 21.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank's stock valued at $3,814,000 after acquiring an additional 110,323 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of First Foundation by 23.4% in the 4th quarter. Bank of New York Mellon Corp now owns 190,603 shares of the bank's stock valued at $1,184,000 after acquiring an additional 36,109 shares during the period. Hedge funds and other institutional investors own 73.10% of the company's stock.

First Foundation Stock Performance

First Foundation stock opened at $4.82 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $396.69 million, a price-to-earnings ratio of -3.59 and a beta of 1.19. First Foundation Inc. has a 12-month low of $4.42 and a 12-month high of $8.52. The firm's fifty day moving average price is $4.91 and its 200 day moving average price is $6.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler cut 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. StockNews.com downgraded shares of First Foundation from a "hold" rating to a "sell" rating in a research note on Friday, April 18th. 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 stock has an average rating of "Hold" and an average price target of $6.75.

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.

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