Elizabeth Park Capital Advisors Ltd. Lowers Holdings in First Foundation Inc. (NASDAQ:FFWM)

Elizabeth Park Capital Advisors Ltd. reduced its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,336 shares of the bank’s stock after selling 282,313 shares during the period. Elizabeth Park Capital Advisors Ltd. owned about 0.34% of First Foundation worth $1,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of First Foundation by 20.1% in the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after acquiring an additional 1,019,484 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 774,844 shares in the last quarter. State Street Corp increased its stake in First Foundation by 2.0% in the third quarter. State Street Corp now owns 1,863,369 shares of the bank’s stock valued at $11,627,000 after purchasing an additional 36,338 shares during the last quarter. Geode Capital Management LLC raised its holdings in First Foundation by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 1,593,473 shares of the bank’s stock worth $9,898,000 after purchasing an additional 176,510 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of First Foundation by 48.6% during the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock worth $7,934,000 after buying an additional 417,849 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation Price Performance

FFWM stock opened at $4.76 on Friday. The company has a market cap of $391.65 million, a price-to-earnings ratio of -3.55 and a beta of 1.35. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $5.12 and a 200-day moving average of $6.29. First Foundation Inc. has a 12-month low of $4.52 and a 12-month high of $8.52.

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.