Mendon Capital Advisors Corp Has $4.24 Million Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Mendon Capital Advisors Corp raised its stake in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 144.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 646,691 shares of the bank's stock after buying an additional 381,946 shares during the quarter. First Foundation comprises about 3.6% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 8th biggest position. Mendon Capital Advisors Corp owned about 1.14% of First Foundation worth $4,236,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in First Foundation in the 1st quarter worth about $25,000. Quadrature Capital Ltd acquired a new stake in shares of First Foundation during the fourth quarter valued at about $126,000. Caxton Associates LP acquired a new stake in First Foundation during the 1st quarter valued at approximately $123,000. TFO Wealth Partners LLC grew its position in shares of First Foundation by 38,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 16,896 shares of the bank's stock worth $164,000 after buying an additional 16,852 shares in the last quarter. Finally, Boston Partners acquired a new position in First Foundation during the 1st quarter worth $128,000. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Stock Up 1.2 %

Shares of First Foundation stock traded up $0.07 on Wednesday, hitting $5.95. 288,328 shares of the company traded hands, compared to its average volume of 616,685. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation Inc. has a 12-month low of $4.41 and a 12-month high of $11.47. The company has a 50-day moving average price of $6.54 and a 200 day moving average price of $6.32. The company has a market cap of $336.25 million, a PE ratio of -1.63 and a beta of 1.33.

First Foundation (NASDAQ:FFWM - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. The firm had revenue of $164.57 million for the quarter, compared to analyst estimates of $54.23 million. During the same quarter last year, the firm earned $0.07 earnings per share. Sell-side analysts predict that First Foundation Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Raymond James downgraded shares of First Foundation from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, July 3rd. DA Davidson upgraded First Foundation from a "neutral" rating to a "buy" rating and lifted their price target for the company from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Wedbush lowered their price objective on shares of First Foundation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 3rd. Piper Sandler reaffirmed a "neutral" rating and set a $6.00 target price on shares of First Foundation in a research report on Wednesday, July 3rd. Finally, StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.