First Foundation Inc. (NASDAQ:FFWM) Shares Purchased by State Street Corp

State Street Corp boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,863,369 shares of the bank’s stock after buying an additional 36,338 shares during the period. State Street Corp’s holdings in First Foundation were worth $11,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new position in shares of First Foundation during the third quarter worth approximately $87,000. Creative Planning boosted its stake in First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after purchasing an additional 4,336 shares during the period. Intech Investment Management LLC acquired a new position in First Foundation in the third quarter valued at $104,000. Hollencrest Capital Management raised its holdings in shares of First Foundation by 76.5% in 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 last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings 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 worth $136,000 after buying an additional 1,632 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FFWM shares. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.80.

First Foundation Stock Up 0.2 %

FFWM opened at $5.96 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. 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 $490.90 million, a P/E ratio of -5.32 and a beta of 1.34. The business has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $6.72.

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.