First Foundation (NASDAQ:FFWM) Hits New 12-Month High – What’s Next?

First Foundation Inc. (NASDAQ:FFWM)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $6.55 and last traded at $6.5750, with a volume of 264664 shares. The stock had previously closed at $6.28.

Analysts Set New Price Targets

FFWM has been the subject of a number of research analyst reports. Stephens upgraded First Foundation from an “underperform” rating to an “overweight” rating in a research note on Friday, October 31st. DA Davidson reaffirmed a “neutral” rating and set a $6.00 target price (down previously from $8.50) on shares of First Foundation in a 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 report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.58.

First Foundation Stock Performance

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 firm has a market capitalization of $540.82 million, a PE ratio of -4.87 and a beta of 0.92. The firm’s 50 day moving average price is $6.02 and its 200-day moving average price is $5.67.

Institutional Trading of First Foundation

A number of institutional investors and hedge funds have recently modified their holdings of FFWM. FJ Capital Management LLC boosted its holdings in First Foundation by 964.2% in the 2nd quarter. FJ Capital Management LLC now owns 1,478,574 shares of the bank’s stock worth $7,541,000 after buying an additional 1,339,637 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of First Foundation in the third quarter worth approximately $4,455,000. EJF Capital LLC increased its position in shares of First Foundation by 267.4% during the third quarter. EJF Capital LLC now owns 661,308 shares of the bank’s stock worth $3,683,000 after purchasing an additional 481,291 shares in the last quarter. Two Sigma Investments LP increased its position in shares of First Foundation by 405.6% during the third quarter. Two Sigma Investments LP now owns 550,398 shares of the bank’s stock worth $3,066,000 after purchasing an additional 441,545 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in First Foundation by 633.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 426,714 shares of the bank’s stock valued at $2,377,000 after purchasing an additional 368,527 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.