Raymond James Financial Inc. Buys Shares of 78,673 First Foundation Inc. (NASDAQ:FFWM)

Raymond James Financial Inc. acquired a new stake in First Foundation Inc. (NASDAQ:FFWM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,673 shares of the bank’s stock, valued at approximately $489,000. Raymond James Financial Inc. owned 0.10% of First Foundation at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of First Foundation in the 4th quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in First Foundation by 665.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after acquiring an additional 4,424 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of First Foundation during the fourth quarter valued at about $91,000. Virtu Financial LLC purchased a new position in shares of First Foundation during the 4th quarter worth approximately $116,000. Finally, Proficio Capital Partners LLC purchased a new stake in First Foundation in the fourth quarter worth $123,000. 73.10% of the stock is owned by institutional investors.

First Foundation Trading Down 0.7 %

Shares of NASDAQ:FFWM opened at $5.23 on Friday. First Foundation Inc. has a 12-month low of $4.42 and a 12-month high of $8.52. The company has a market cap of $430.47 million, a PE ratio of -3.90 and a beta of 1.01. The stock has a 50 day moving average of $4.93 and a 200 day moving average of $5.98. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

Analysts Set New Price Targets

FFWM has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities 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 data from MarketBeat, First Foundation has an average rating of “Hold” and an average price target of $6.75.

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.