Banc Funds Co. LLC Sells 47,000 Shares of First Foundation Inc. (NASDAQ:FFWM)

Banc Funds Co. LLC cut its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,306,054 shares of the bank’s stock after selling 47,000 shares during the period. Banc Funds Co. LLC’s holdings in First Foundation were worth $8,111,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in First Foundation by 25.4% in the fourth quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank’s stock valued at $23,752,000 after acquiring an additional 774,844 shares during the period. Royce & Associates LP lifted its holdings in First Foundation by 48.6% during the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock valued at $7,934,000 after purchasing an additional 417,849 shares during the last quarter. Federated Hermes Inc. boosted its position in First Foundation by 283.5% in the fourth quarter. Federated Hermes Inc. now owns 564,167 shares of the bank’s stock valued at $3,503,000 after buying an additional 417,044 shares in the last quarter. Geode Capital Management LLC lifted its holdings in First Foundation by 21.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock worth $8,844,000 after buying an additional 249,237 shares in the last quarter. Finally, Fourthstone LLC acquired a new stake in shares of First Foundation in the 4th quarter valued at $1,168,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Down 1.0 %

NASDAQ:FFWM opened at $4.80 on Thursday. The stock’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $6.18. The firm has a market capitalization of $395.35 million, a P/E ratio of -3.58 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12-month low of $4.42 and a 12-month high of $8.52.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com raised First Foundation from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th. Piper Sandler cut their target price on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.75.

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.