Private Management Group Inc. Invests $560,000 in First Foundation Inc. $FFWM

Private Management Group Inc. bought a new stake in First Foundation Inc. (NASDAQ:FFWM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,845 shares of the bank’s stock, valued at approximately $560,000. Private Management Group Inc. owned 0.13% of First Foundation as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FLC Capital Advisors lifted its stake in shares of First Foundation by 5.2% in the 2nd quarter. FLC Capital Advisors now owns 148,171 shares of the bank’s stock valued at $756,000 after purchasing an additional 7,366 shares during the period. Mendon Capital Advisors Corp increased its holdings in First Foundation by 23.2% in the first quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank’s stock worth $2,389,000 after purchasing an additional 86,675 shares in the last quarter. Royce & Associates LP lifted its stake in First Foundation by 13.7% in the first quarter. Royce & Associates LP now owns 1,452,919 shares of the bank’s stock valued at $7,541,000 after buying an additional 175,300 shares during the period. Goldman Sachs Group Inc. grew its position in shares of First Foundation by 28.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 618,288 shares of the bank’s stock worth $3,209,000 after buying an additional 136,308 shares during the period. Finally, Curi RMB Capital LLC increased its stake in shares of First Foundation by 26.8% in the 1st quarter. Curi RMB Capital LLC now owns 400,000 shares of the bank’s stock valued at $2,076,000 after acquiring an additional 84,500 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stephens upgraded shares of First Foundation from an “underperform” rating to an “overweight” rating in a report on Friday, October 31st. Piper Sandler set a $6.75 target price on First Foundation and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $6.00 price target (down from $8.50) on shares of First Foundation in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.58.

First Foundation Trading Up 6.5%

FFWM opened at $5.32 on Friday. First Foundation Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $8.52. The firm has a market capitalization of $440.53 million, a PE ratio of -3.97 and a beta of 1.05. 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 company’s 50-day moving average is $5.49 and its 200 day moving average is $5.41.

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.