First Foundation Inc. (NASDAQ:FFWM) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 48.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,277,619 shares of the bank’s stock after buying an additional 417,849 shares during the quarter. Royce & Associates LP owned about 1.55% of First Foundation worth $7,934,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Value Bank Partners LLC raised its position in First Foundation by 115.3% in the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after purchasing an additional 1,551,861 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of First Foundation during the 3rd quarter worth about $8,373,000. FMR LLC raised its holdings in First Foundation by 20.1% in the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after buying an additional 1,019,484 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in First Foundation in the third quarter valued at about $4,428,000. Finally, Azora Capital LP boosted its stake in First Foundation by 8.8% during the third quarter. Azora Capital LP now owns 4,090,296 shares of the bank’s stock worth $25,523,000 after buying an additional 332,252 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price objective on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Stock Performance

NASDAQ FFWM opened at $4.90 on Wednesday. The company has a market cap of $403.26 million, a P/E ratio of -3.65 and a beta of 1.35. First Foundation Inc. has a 1-year low of $4.52 and a 1-year high of $8.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a 50-day moving average of $5.41 and a two-hundred day moving average of $6.44.

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.