First Foundation Inc. (NASDAQ:FFWM) Shares Bought by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. boosted its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,953 shares of the bank's stock after buying an additional 97,732 shares during the period. First Foundation makes up approximately 2.6% of Elizabeth Park Capital Advisors Ltd.'s portfolio, making the stock its 12th biggest position. Elizabeth Park Capital Advisors Ltd. owned about 0.82% of First Foundation worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in shares of First Foundation by 65.4% during the second quarter. AQR Capital Management LLC now owns 253,119 shares of the bank's stock valued at $1,658,000 after acquiring an additional 100,070 shares during the last quarter. ELCO Management Co. LLC purchased a new stake in First Foundation in the second quarter valued at approximately $317,000. Cubist Systematic Strategies LLC acquired a new position in First Foundation during the second quarter worth $563,000. Thrivent Financial for Lutherans acquired a new position in First Foundation during the second quarter worth $838,000. Finally, Sei Investments Co. boosted its position in shares of First Foundation by 30.5% during the second quarter. Sei Investments Co. now owns 44,246 shares of the bank's stock worth $290,000 after buying an additional 10,350 shares during the period. Institutional investors and hedge funds own 73.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FFWM. Wedbush decreased their target price on First Foundation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 3rd. StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a research note on Friday, July 26th. Stephens upped their target price on shares of First Foundation from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Raymond James cut shares of First Foundation from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, July 3rd. Finally, DA Davidson upgraded shares of First Foundation from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.80.

First Foundation Stock Up 0.7 %

First Foundation stock traded up $0.04 during midday trading on Thursday, reaching $6.17. The company's stock had a trading volume of 434,833 shares, compared to its average volume of 621,450. The company has a market cap of $348.68 million, a P/E ratio of -1.69 and a beta of 1.33. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.84. The business has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $6.38. First Foundation Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $11.47.

First Foundation (NASDAQ:FFWM - Get Free Report) last posted its earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $164.57 million during the quarter, compared to analysts' expectations of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same quarter in the previous year, the business earned $0.07 earnings per share. On average, research analysts expect that First Foundation Inc. will post -0.06 earnings per share for the current fiscal year.

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.