First Foundation Inc. $FFWM Shares Bought by FLC Capital Advisors

FLC Capital Advisors lifted its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,171 shares of the bank’s stock after purchasing an additional 7,366 shares during the quarter. FLC Capital Advisors’ holdings in First Foundation were worth $756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Royce & Associates LP lifted its position in First Foundation by 13.7% during the first quarter. Royce & Associates LP now owns 1,452,919 shares of the bank’s stock worth $7,541,000 after buying an additional 175,300 shares during the period. Mendon Capital Advisors Corp lifted its holdings in shares of First Foundation by 23.2% during the 1st quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank’s stock worth $2,389,000 after acquiring an additional 86,675 shares during the period. Curi RMB Capital LLC boosted its position in shares of First Foundation by 26.8% in the first quarter. Curi RMB Capital LLC now owns 400,000 shares of the bank’s stock worth $2,076,000 after acquiring an additional 84,500 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in First Foundation by 28.3% in the first quarter. Goldman Sachs Group Inc. now owns 618,288 shares of the bank’s stock valued at $3,209,000 after purchasing an additional 136,308 shares during the period. Finally, EJF Capital LLC increased its position in First Foundation by 53.3% during the first quarter. EJF Capital LLC now owns 265,378 shares of the bank’s stock worth $1,377,000 after purchasing an additional 92,212 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Stock Up 3.4%

FFWM opened at $5.36 on Monday. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $8.52. The firm has a 50 day moving average price of $5.73 and a 200 day moving average price of $5.35. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $441.18 million, a PE ratio of -4.00 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price target 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

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.