First Foundation Inc. $FFWM Shares Bought by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp increased its position in First Foundation Inc. (NASDAQ:FFWM) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,386 shares of the bank’s stock after purchasing an additional 86,675 shares during the quarter. First Foundation accounts for 1.2% of Mendon Capital Advisors Corp’s portfolio, making the stock its 27th largest position. Mendon Capital Advisors Corp’s holdings in First Foundation were worth $2,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of First Foundation by 13.7% in the first quarter. Royce & Associates LP now owns 1,452,919 shares of the bank’s stock valued at $7,541,000 after purchasing an additional 175,300 shares during the period. Nuveen LLC bought a new position in First Foundation during the 1st quarter valued at $1,166,000. Price T Rowe Associates Inc. MD boosted its stake in First Foundation by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,459 shares of the bank’s stock valued at $152,000 after acquiring an additional 3,885 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in First Foundation by 11.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,603,952 shares of the bank’s stock valued at $8,325,000 after acquiring an additional 159,570 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in First Foundation by 50.9% during the 4th quarter. ProShare Advisors LLC now owns 17,915 shares of the bank’s stock valued at $111,000 after acquiring an additional 6,043 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group set a $7.00 price target on shares of First Foundation and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of First Foundation from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, August 1st. Finally, Wall Street Zen cut shares of First Foundation from a “hold” rating to a “sell” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.25.

First Foundation Stock Performance

Shares of FFWM opened at $5.92 on Wednesday. First Foundation Inc. has a one year low of $4.41 and a one year high of $8.52. The company has a 50-day moving average of $5.44 and a two-hundred day moving average of $5.19. The stock has a market cap of $487.40 million, a price-to-earnings ratio of -4.41 and a beta of 1.04. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

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.