Fourthstone LLC Makes New $1.17 Million Investment in First Foundation Inc. (NASDAQ:FFWM)

Fourthstone LLC purchased a new stake in First Foundation Inc. (NASDAQ:FFWM) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 188,145 shares of the bank’s stock, valued at approximately $1,168,000.

A number of other institutional investors have also modified their holdings of FFWM. Vanguard Group Inc. boosted its stake 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 shares of First Foundation by 48.6% in the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock worth $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% during the 4th quarter. Federated Hermes Inc. now owns 564,167 shares of the bank’s stock valued at $3,503,000 after purchasing an additional 417,044 shares during the period. Geode Capital Management LLC grew its stake 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 during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in First Foundation in the fourth quarter worth $775,000. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

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

First Foundation Trading Down 1.0 %

First Foundation stock opened at $4.80 on Thursday. First Foundation Inc. has a 12-month low of $4.42 and a 12-month 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 market capitalization of $395.35 million, a PE ratio of -3.58 and a beta of 1.19. The firm has a 50 day simple moving average of $4.95 and a 200-day simple moving average of $6.18.

About First Foundation

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.