FLC Capital Advisors Raises Stock Position in First Foundation Inc. $FFWM

FLC Capital Advisors lifted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,171 shares of the bank’s stock after acquiring an additional 7,366 shares during the quarter. FLC Capital Advisors owned 0.18% of First Foundation worth $756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FFWM. GAMMA Investing LLC raised its holdings in First Foundation by 90.0% during the first quarter. GAMMA Investing LLC now owns 5,039 shares of the bank’s stock worth $26,000 after purchasing an additional 2,387 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of First Foundation by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 152,141 shares of the bank’s stock valued at $776,000 after buying an additional 2,806 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of First Foundation by 10.9% during the 1st quarter. MetLife Investment Management LLC now owns 33,586 shares of the bank’s stock worth $174,000 after buying an additional 3,301 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of First Foundation in the 1st quarter worth about $25,000. Finally, Moran Wealth Management LLC acquired a new stake in First Foundation in the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on shares of First Foundation from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, First Foundation currently has an average rating of “Moderate Buy” and an average price target of $6.25.

First Foundation Stock Up 3.4%

Shares of NASDAQ:FFWM opened at $5.36 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $441.18 million, a P/E ratio of -4.00 and a beta of 0.99. First Foundation Inc. has a 52-week low of $4.41 and a 52-week high of $8.52. The stock’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $5.35.

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.