First Foundation (NASDAQ:FFWM) Stock Price Passes Above 50-Day Moving Average – What’s Next?

First Foundation Inc. (NASDAQ:FFWM) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.49 and traded as high as $6.16. First Foundation shares last traded at $5.84, with a volume of 818,723 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price target on shares of First Foundation from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, August 1st. Jefferies Financial Group set a $7.00 target price on shares of First Foundation and gave the stock a “buy” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Foundation currently has an average rating of “Hold” and a consensus price target of $6.25.

First Foundation Trading Down 0.6%

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’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $5.23. The stock has a market cap of $480.72 million, a P/E ratio of -4.35 and a beta of 1.04.

Institutional Trading of First Foundation

Hedge funds have recently bought and sold shares of the business. Royce & Associates LP raised its stake in shares of First Foundation by 13.7% during the 1st quarter. Royce & Associates LP now owns 1,452,919 shares of the bank’s stock worth $7,541,000 after purchasing an additional 175,300 shares during the period. EJF Capital LLC grew its holdings in shares of First Foundation by 53.3% during the first quarter. EJF Capital LLC now owns 265,378 shares of the bank’s stock worth $1,377,000 after purchasing an additional 92,212 shares in the last quarter. Curi RMB Capital LLC boosted its stake in First Foundation by 26.8% in the first quarter. Curi RMB Capital LLC now owns 400,000 shares of the bank’s stock worth $2,076,000 after buying an additional 84,500 shares in the last quarter. Mendon Capital Advisors Corp lifted its position in First Foundation by 23.2% in the first quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank’s stock valued at $2,389,000 after purchasing an additional 86,675 shares during the last quarter. Finally, Nuveen LLC bought a new stake in First Foundation in the first quarter valued at approximately $1,166,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Company 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.