First Foundation (NASDAQ:FFWM) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

First Foundation Inc. (NASDAQ:FFWM) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.22 and traded as high as $6.36. First Foundation shares last traded at $6.3250, with a volume of 1,655,605 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson reaffirmed a “neutral” rating and set a $6.00 target price (down from $8.50) on shares of First Foundation in a report on Thursday, October 30th. Stephens upgraded First Foundation from an “underperform” rating to an “overweight” rating in a research report on Friday, October 31st. Finally, Piper Sandler set a $6.75 target price on shares of First Foundation and gave the company an “overweight” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.58.

First Foundation Trading Up 1.4%

The firm has a market cap of $524.24 million, a price-to-earnings ratio of -4.72 and a beta of 0.93. The company’s 50-day moving average price is $6.22 and its 200-day moving average price is $5.78. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Institutional Investors Weigh In On First Foundation

A number of hedge funds have recently modified their holdings of FFWM. North Reef Capital Management LP raised its holdings in First Foundation by 13.2% in the 4th quarter. North Reef Capital Management LP now owns 7,812,475 shares of the bank’s stock valued at $48,125,000 after acquiring an additional 912,169 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of First Foundation by 9.5% in the third quarter. Vanguard Group Inc. now owns 4,106,809 shares of the bank’s stock valued at $22,875,000 after purchasing an additional 357,859 shares during the last quarter. Maltese Capital Management LLC lifted its position in First Foundation by 6.0% during the fourth quarter. Maltese Capital Management LLC now owns 2,470,000 shares of the bank’s stock worth $15,215,000 after buying an additional 139,851 shares in the last quarter. State Street Corp boosted its stake in First Foundation by 5.9% during the fourth quarter. State Street Corp now owns 2,446,179 shares of the bank’s stock worth $15,068,000 after buying an additional 135,239 shares during the last quarter. Finally, FJ Capital Management LLC boosted its stake in First Foundation by 39.2% during the third quarter. FJ Capital Management LLC now owns 2,057,660 shares of the bank’s stock worth $11,461,000 after buying an additional 579,086 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

About First Foundation

First Foundation Inc is a bank holding company headquartered in Irvine, California, that provides a suite of banking and wealth management services through its subsidiary, First Foundation Bank, and affiliated advisory firms. The company’s primary focus lies in serving high-net-worth individuals, privately held businesses, professionals and entrepreneurs, offering a combination of personalized banking solutions and tailored investment advice.

On the banking side, First Foundation offers deposit products, business checking accounts, cash management services and specialized lending solutions.