First Foundation (NASDAQ:FFWM) Shares Up 3.7% – Still a Buy?

First Foundation Inc. (NASDAQ:FFWM) was up 3.7% on Friday . The company traded as high as $6.21 and last traded at $6.21. Approximately 142,754 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 593,650 shares. The stock had previously closed at $5.99.

Analyst Upgrades and Downgrades

FFWM has been the topic of a number of recent analyst reports. Stephens lowered First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One equities research 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 MarketBeat, First Foundation presently has a consensus rating of “Hold” and a consensus target price of $7.80.

First Foundation Price Performance

The business has a 50-day moving average price of $7.52 and a 200 day moving average price of $6.70. The stock has a market cap of $518.08 million, a PE ratio of -5.62 and a beta of 1.34. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Institutional Trading of First Foundation

Hedge funds and other institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of First Foundation in the third quarter worth about $72,000. HighTower Advisors LLC bought a new position in First Foundation in the 3rd quarter valued at $87,000. Creative Planning grew its position in shares of First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of First Foundation in the third quarter worth $104,000. Finally, Hollencrest Capital Management boosted its stake in First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after buying an additional 8,600 shares during the period. Institutional investors own 73.10% of the company’s stock.

About First Foundation

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.