HighTower Advisors LLC Invests $87,000 in First Foundation Inc. (NASDAQ:FFWM)

HighTower Advisors LLC purchased a new stake in shares of First Foundation Inc. (NASDAQ:FFWM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,073 shares of the bank’s stock, valued at approximately $87,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FFWM. Creative Planning boosted its position in 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 acquiring an additional 4,336 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of First Foundation in the 3rd quarter valued at approximately $104,000. Hollencrest Capital Management lifted its stake in shares of First Foundation by 76.5% in the 3rd quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,600 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in First Foundation by 28.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank’s stock worth $173,000 after purchasing an additional 5,790 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Stock Up 1.3 %

Shares of NASDAQ:FFWM opened at $6.04 on Friday. First Foundation Inc. has a 12-month low of $4.84 and a 12-month high of $11.47. The stock has a market capitalization of $497.48 million, a price-to-earnings ratio of -5.39 and a beta of 1.34. The stock has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $6.71. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Analyst Ratings Changes

FFWM has been the subject of several recent research reports. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and an average price target of $7.80.

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.