Modera Wealth Management LLC Sells 95,150 Shares of First Foundation Inc. (NASDAQ:FFWM)

Modera Wealth Management LLC lowered its stake in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 33.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,349 shares of the bank's stock after selling 95,150 shares during the quarter. Modera Wealth Management LLC owned about 0.34% of First Foundation worth $1,188,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of First Foundation during the first quarter worth approximately $3,819,000. Mendon Capital Advisors Corp lifted its holdings in shares of First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank's stock worth $4,236,000 after buying an additional 381,946 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of First Foundation during the first quarter worth approximately $1,731,000. Thrivent Financial for Lutherans acquired a new position in shares of First Foundation during the second quarter worth approximately $838,000. Finally, AQR Capital Management LLC lifted its holdings 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 worth $1,658,000 after buying an additional 100,070 shares during the last quarter. Institutional investors own 73.10% of the company's stock.

First Foundation Price Performance

First Foundation stock traded down $0.54 during mid-day trading on Tuesday, hitting $7.23. 886,789 shares of the company were exchanged, compared to its average volume of 613,979. 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 fifty day moving average of $6.81 and a 200 day moving average of $6.31. First Foundation Inc. has a 1-year low of $4.41 and a 1-year high of $11.47. The company has a market capitalization of $408.58 million, a PE ratio of -2.05 and a beta of 1.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FFWM. Raymond James lowered First Foundation from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, July 3rd. StockNews.com lowered First Foundation from a "hold" rating to a "sell" rating in a research note on Friday, July 26th. Piper Sandler restated a "neutral" rating and issued a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. Wedbush cut their target price on First Foundation from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, July 3rd. Finally, DA Davidson upgraded First Foundation from a "neutral" rating to a "buy" rating and upped their target price for the company from $8.00 to $9.00 in a research note on Wednesday, July 3rd. 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 stock. According to MarketBeat.com, First Foundation presently has an average rating of "Hold" and an average target price of $7.80.

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.