First Foundation (NASDAQ:FFWM) Sees Strong Trading Volume – Still a Buy?

First Foundation Inc. (NASDAQ:FFWM) shares saw unusually-high trading volume on Wednesday . Approximately 1,240,632 shares were traded during trading, an increase of 222% from the previous session’s volume of 384,748 shares.The stock last traded at $6.3140 and had previously closed at $6.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler set a $6.75 price objective on First Foundation and gave the company an “overweight” rating in a report on Monday, November 3rd. Stephens raised shares of First Foundation from an “underperform” rating to an “overweight” rating in a research report on Friday, October 31st. Finally, DA Davidson restated a “neutral” rating and set a $6.00 price objective (down previously from $8.50) on shares of First Foundation in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.58.

First Foundation Price Performance

The firm has a market cap of $525.48 million, a P/E ratio of -4.73 and a beta of 0.92. The company has a fifty day moving average of $5.84 and a 200-day moving average of $5.63. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in First Foundation in the 3rd quarter worth about $27,000. Mercer Global Advisors Inc. ADV bought a new position in shares of First Foundation in the third quarter valued at approximately $68,000. Inceptionr LLC bought a new position in shares of First Foundation in the second quarter valued at approximately $74,000. Cypress Wealth Services LLC purchased a new stake in shares of First Foundation during the fourth quarter valued at approximately $100,000. Finally, Arcus Capital Partners LLC bought a new stake in First Foundation during the third quarter worth $97,000. 73.10% of the stock is currently owned by hedge funds and other 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.