Geode Capital Management LLC Buys 176,510 Shares of First Foundation Inc. (NASDAQ:FFWM)

Geode Capital Management LLC raised its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,593,473 shares of the bank’s stock after purchasing an additional 176,510 shares during the quarter. Geode Capital Management LLC owned 1.93% of First Foundation worth $9,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FFWM. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 774,844 shares during the period. Royce & Associates LP raised its stake in First Foundation by 48.6% during the fourth quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock worth $7,934,000 after acquiring an additional 417,849 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in First Foundation during the fourth quarter worth $775,000. JPMorgan Chase & Co. boosted its stake in shares of First Foundation by 234.5% in the 4th quarter. JPMorgan Chase & Co. now owns 167,940 shares of the bank’s stock valued at $1,043,000 after purchasing an additional 117,730 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of First Foundation by 21.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank’s stock valued at $3,814,000 after purchasing an additional 110,323 shares in the last quarter. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Friday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Trading Up 4.2 %

Shares of First Foundation stock opened at $5.14 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a 50-day moving average of $4.93 and a 200-day moving average of $6.13. First Foundation Inc. has a 52-week low of $4.42 and a 52-week high of $8.52. The stock has a market cap of $423.19 million, a PE ratio of -3.83 and a beta of 1.19.

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.