First Foundation (NASDAQ:FFWM) Stock Passes Above Fifty Day Moving Average – What’s Next?

First Foundation Inc. (NASDAQ:FFWM) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $6.00 and traded as high as $6.19. First Foundation shares last traded at $6.0850, with a volume of 2,107,423 shares changing hands.

Analyst Upgrades and Downgrades

FFWM has been the subject of several recent analyst reports. Stephens raised First Foundation from an “underperform” rating to an “overweight” rating in a research note on Friday, October 31st. DA Davidson reiterated a “neutral” rating and issued a $6.00 target price (down previously from $8.50) on shares of First Foundation in a research report on Thursday, October 30th. Finally, Piper Sandler set a $6.75 price target on shares of First Foundation and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.58.

First Foundation Price Performance

The company has a 50 day moving average of $6.00 and a two-hundred day moving average of $5.66. The firm has a market cap of $504.35 million, a P/E ratio of -4.54 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Institutional Trading of First Foundation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cloud Capital Management LLC bought a new stake in First Foundation during the third quarter worth approximately $27,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of First Foundation during the 3rd quarter valued at $68,000. Inceptionr LLC acquired a new stake in shares of First Foundation during the 2nd quarter valued at $74,000. Arcus Capital Partners LLC acquired a new position in shares of First Foundation in the 3rd quarter worth $97,000. Finally, Cypress Wealth Services LLC acquired a new position in shares of First Foundation in the 4th quarter worth $100,000. 73.10% of the stock is currently owned by institutional investors.

First Foundation Company Profile

First Foundation Inc is a bank holding company headquartered in Irvine, California, that provides a suite of banking and wealth management services through its subsidiary, First Foundation Bank, and affiliated advisory firms. The company’s primary focus lies in serving high-net-worth individuals, privately held businesses, professionals and entrepreneurs, offering a combination of personalized banking solutions and tailored investment advice.

On the banking side, First Foundation offers deposit products, business checking accounts, cash management services and specialized lending solutions.