Royce & Associates LP Purchases 506,956 Shares of First Foundation Inc. (NASDAQ:FFWM)

Royce & Associates LP raised its position in First Foundation Inc. (NASDAQ:FFWM) by 143.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859,770 shares of the bank’s stock after buying an additional 506,956 shares during the quarter. Royce & Associates LP owned 1.27% of First Foundation worth $5,365,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp increased its position in 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 acquiring an additional 381,946 shares during the period. Modera Wealth Management LLC bought a new position in shares of First Foundation during the second quarter worth approximately $1,870,000. Kennedy Capital Management LLC acquired a new stake in shares of First Foundation in the first quarter valued at approximately $1,731,000. Thrivent Financial for Lutherans bought a new stake in shares of First Foundation in the second quarter valued at approximately $838,000. Finally, AQR Capital Management LLC boosted its stake in shares of First Foundation by 65.4% in the second quarter. AQR Capital Management LLC now owns 253,119 shares of the bank’s stock valued at $1,658,000 after buying an additional 100,070 shares during the period. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Down 1.7 %

NASDAQ FFWM opened at $7.58 on Tuesday. The business has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $6.41. The stock has a market capitalization of $624.18 million, a PE ratio of -6.76 and a beta of 1.30. First Foundation Inc. has a fifty-two week low of $4.84 and a fifty-two week high of $11.47. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 1.04.

Wall Street Analysts Forecast Growth

FFWM has been the subject of several analyst reports. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have issued 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 an average 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.