Intech Investment Management LLC Grows Stake in First Foundation Inc. (NASDAQ:FFWM)

Intech Investment Management LLC grew its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 22.7% in the fourth quarter, Holdings Channel reports. The fund owned 20,537 shares of the bank’s stock after acquiring an additional 3,794 shares during the quarter. Intech Investment Management LLC’s holdings in First Foundation were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in First Foundation by 665.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock valued at $32,000 after purchasing an additional 4,424 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of First Foundation in the third quarter valued at $72,000. HighTower Advisors LLC purchased a new position in shares of First Foundation during the 3rd quarter valued at $87,000. Proficio Capital Partners LLC bought a new position in shares of First Foundation during the 4th quarter worth $123,000. Finally, The Manufacturers Life Insurance Company increased its holdings in First Foundation by 12.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock worth $146,000 after acquiring an additional 2,579 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Price Performance

First Foundation stock opened at $4.95 on Friday. The firm has a market capitalization of $407.29 million, a P/E ratio of -3.69 and a beta of 1.35. First Foundation Inc. has a one year low of $4.52 and a one year high of $8.52. 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 business has a fifty day moving average price of $5.26 and a 200-day moving average price of $6.35.

Wall Street Analyst Weigh In

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

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.