First Foundation Inc. (NASDAQ:FFWM) Shares Purchased by Hollencrest Capital Management

Hollencrest Capital Management lifted its position in First Foundation Inc. (NASDAQ:FFWM) by 76.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,840 shares of the bank’s stock after acquiring an additional 8,600 shares during the quarter. Hollencrest Capital Management’s holdings in First Foundation were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in shares of First Foundation during the 1st quarter valued at about $3,819,000. Mendon Capital Advisors Corp grew 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 valued at $4,236,000 after purchasing an additional 381,946 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of First Foundation during the 2nd quarter worth approximately $1,870,000. Kennedy Capital Management LLC acquired a new position in First Foundation during the 1st quarter valued at approximately $1,731,000. Finally, Thrivent Financial for Lutherans acquired a new stake in First Foundation in the second quarter worth $838,000. 73.10% of the stock is currently owned by institutional investors.

First Foundation Stock Performance

Shares of FFWM opened at $7.78 on Friday. The firm has a market capitalization of $527.87 million, a PE ratio of -6.95 and a beta of 1.30. 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 firm has a 50-day moving average price of $6.87 and a 200 day moving average price of $6.35. First Foundation Inc. has a 52-week low of $4.71 and a 52-week high of $11.47.

Analysts Set New Price Targets

Several research firms have recently commented on FFWM. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, First Foundation has a consensus 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.