First Foundation (NASDAQ:FFWM) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of First Foundation Inc. (NASDAQ:FFWM) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.63 and traded as low as $5.13. First Foundation shares last traded at $5.17, with a volume of 509,949 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FFWM shares. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Piper Sandler lowered their target price on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation Stock Down 3.2 %

The business has a 50 day simple moving average of $5.86 and a 200 day simple moving average of $6.62. The stock has a market cap of $412.21 million, a PE ratio of -3.74 and a beta of 1.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Institutional Trading of First Foundation

A number of institutional investors and hedge funds have recently made changes to their positions in FFWM. North Reef Capital Management LP lifted its position in shares of First Foundation by 182.7% during the 4th quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank’s stock worth $27,242,000 after purchasing an additional 2,835,000 shares during the last quarter. Strategic Value Bank Partners LLC grew its stake in shares of First Foundation by 115.3% in 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 purchasing an additional 1,551,861 shares during the period. Invenomic Capital Management LP bought a new stake in First Foundation during the 3rd quarter worth approximately $8,373,000. FMR LLC grew its position in First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock worth $38,063,000 after acquiring an additional 1,019,484 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in First Foundation by 25.4% during the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank’s stock worth $23,752,000 after acquiring an additional 774,844 shares during the last quarter. Institutional investors and hedge funds 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.