First Foundation (NASDAQ:FFWM) Stock Price Down 4.1% – Here’s Why

First Foundation Inc. (NASDAQ:FFWM)’s share price was down 4.1% on Wednesday . The company traded as low as $6.20 and last traded at $6.13. Approximately 50,563 shares traded hands during trading, a decline of 85% from the average daily volume of 348,050 shares. The stock had previously closed at $6.39.

Analyst Ratings Changes

FFWM has been the topic of several recent research reports. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Stephens cut First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.75.

First Foundation Stock Performance

The company has a 50-day moving average price of $6.88 and a 200-day moving average price of $6.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $513.51 million, a price-to-earnings ratio of -5.57 and a beta of 1.37.

Institutional Investors Weigh In On First Foundation

Institutional investors have recently bought and sold shares of the stock. Strategic Value Bank Partners LLC increased its stake in First Foundation by 115.3% during the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after buying an additional 1,551,861 shares during the period. Invenomic Capital Management LP bought a new position in shares of First Foundation in the third quarter valued at approximately $8,373,000. FMR LLC increased its stake in shares of First Foundation by 20.1% during the third quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after acquiring an additional 1,019,484 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in First Foundation in the third quarter worth approximately $4,428,000. Finally, Royce & Associates LP boosted its stake in First Foundation by 143.7% during the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after purchasing an additional 506,956 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

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.