Azora Capital LP Boosts Holdings in First Foundation Inc. (NASDAQ:FFWM)

Azora Capital LP grew its position in First Foundation Inc. (NASDAQ:FFWM) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,090,296 shares of the bank’s stock after purchasing an additional 332,252 shares during the quarter. First Foundation comprises approximately 1.4% of Azora Capital LP’s investment portfolio, making the stock its 24th biggest holding. Azora Capital LP’s holdings in First Foundation were worth $25,523,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FFWM. Creative Planning grew its stake in First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of First Foundation during the third quarter worth about $104,000. Hollencrest Capital Management increased its holdings in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares in the last quarter. Boston Partners acquired a new position in shares of First Foundation during the first quarter valued at about $128,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of First Foundation by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares during the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FFWM shares. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, First Foundation has a consensus rating of “Hold” and an average price target of $7.80.

First Foundation Price Performance

Shares of NASDAQ:FFWM opened at $7.95 on Monday. First Foundation Inc. has a twelve month low of $4.84 and a twelve month high of $11.47. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market cap of $654.68 million, a PE ratio of -7.10 and a beta of 1.30. The company’s 50 day moving average is $7.23 and its 200 day moving average is $6.57.

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.