Wells Fargo & Company MN Grows Holdings in First Foundation Inc. (NASDAQ:FFWM)

Wells Fargo & Company MN boosted its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,393 shares of the bank’s stock after acquiring an additional 9,030 shares during the period. Wells Fargo & Company MN’s holdings in First Foundation were worth $220,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its position in shares of First Foundation by 30.0% in the 3rd quarter. Barclays PLC now owns 145,932 shares of the bank’s stock worth $911,000 after purchasing an additional 33,666 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of First Foundation by 33.5% in the third quarter. JPMorgan Chase & Co. now owns 50,210 shares of the bank’s stock worth $313,000 after acquiring an additional 12,586 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of First Foundation in the 4th quarter worth about $775,000. FLC Capital Advisors raised its position in shares of First Foundation by 3.6% in the 4th quarter. FLC Capital Advisors now owns 140,805 shares of the bank’s stock worth $874,000 after purchasing an additional 4,944 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in First Foundation by 5.7% during the 4th quarter. SG Americas Securities LLC now owns 54,309 shares of the bank’s stock valued at $337,000 after purchasing an additional 2,926 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.75.

First Foundation Stock Down 0.7 %

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

First Foundation Company 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.