Royce & Associates LP Has $5.37 Million Position in First Foundation Inc. (NASDAQ:FFWM)

Royce & Associates LP grew its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 143.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 859,770 shares of the bank’s stock after purchasing an additional 506,956 shares during the quarter. Royce & Associates LP’s holdings in First Foundation were worth $5,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mendon Capital Advisors Corp raised its holdings in First Foundation by 144.3% in the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock valued at $4,236,000 after buying an additional 381,946 shares during the last quarter. Modera Wealth Management LLC bought a new stake in First Foundation during the 2nd quarter worth approximately $1,870,000. Kennedy Capital Management LLC acquired a new position in First Foundation in the 1st quarter valued at approximately $1,731,000. Thrivent Financial for Lutherans bought a new position in shares of First Foundation during the second quarter valued at $838,000. Finally, AQR Capital Management LLC lifted its holdings in shares of First Foundation by 65.4% during the second quarter. AQR Capital Management LLC now owns 253,119 shares of the bank’s stock worth $1,658,000 after purchasing an additional 100,070 shares during the period. 73.10% of the stock is currently owned by institutional investors.

First Foundation Trading Down 1.7 %

FFWM opened at $7.58 on Tuesday. First Foundation Inc. has a twelve month low of $4.84 and a twelve month high of $11.47. The company has a fifty day moving average of $6.97 and a 200-day moving average of $6.41. The stock has a market cap of $624.18 million, a PE ratio of -6.76 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FFWM shares. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.80.

First Foundation Profile

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.