Thrivent Financial for Lutherans Grows Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

Thrivent Financial for Lutherans grew its stake in First Foundation Inc. (NASDAQ:FFWM) by 3.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,807 shares of the bank’s stock after purchasing an additional 4,820 shares during the period. Thrivent Financial for Lutherans’ holdings in First Foundation were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FFWM. Creative Planning boosted its stake in First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of First Foundation by 76.5% during the 3rd quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares during the last quarter. Boston Partners purchased a new stake in shares of First Foundation in the first quarter valued at about $128,000. The Manufacturers Life Insurance Company grew its holdings in shares of First Foundation by 8.5% in 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 during the period. Finally, SG Americas Securities LLC acquired a new stake in First Foundation during the second quarter worth about $162,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Trading Down 2.0 %

Shares of FFWM stock opened at $7.85 on Wednesday. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47. The firm has a market cap of $646.45 million, a PE ratio of -7.01 and a beta of 1.34. The company has a 50-day moving average of $7.29 and a two-hundred day moving average of $6.60. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com lowered shares of 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 report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.80.

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.