First Foundation Inc. (NASDAQ:FFWM) Shares Acquired by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp boosted its stake in First Foundation Inc. (NASDAQ:FFWM) by 144.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 646,691 shares of the bank’s stock after acquiring an additional 381,946 shares during the quarter. First Foundation accounts for about 3.6% of Mendon Capital Advisors Corp’s portfolio, making the stock its 8th biggest holding. Mendon Capital Advisors Corp owned 1.14% of First Foundation worth $4,236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FFWM. Riverview Trust Co acquired a new position in shares of First Foundation during the first quarter valued at approximately $25,000. Quadrature Capital Ltd acquired a new position in First Foundation in the 4th quarter valued at $126,000. Caxton Associates LP purchased a new position in First Foundation in the 1st quarter valued at $123,000. TFO Wealth Partners LLC boosted its stake in First Foundation by 38,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 16,896 shares of the bank’s stock worth $164,000 after purchasing an additional 16,852 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of First Foundation during the first quarter worth $128,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FFWM shares. Piper Sandler reissued a “neutral” rating and issued a $6.00 price target on shares of First Foundation in a research note on Wednesday, July 3rd. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Stephens upped their price target on First Foundation from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Raymond James downgraded First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. Finally, DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.80.

First Foundation Stock Down 5.8 %

FFWM stock opened at $5.88 on Wednesday. First Foundation Inc. has a one year low of $4.41 and a one year high of $11.47. The firm has a market cap of $332.29 million, a PE ratio of -1.61 and a beta of 1.33. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.32. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.04 and a current ratio of 1.04.

First Foundation (NASDAQ:FFWM) last posted its earnings results on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $164.57 million for the quarter, compared to the consensus estimate of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same quarter in the previous year, the business earned $0.07 earnings per share. On average, equities research analysts anticipate that First Foundation Inc. will post -0.06 EPS for the current year.

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.