First Foundation (NASDAQ:FFWM) Sets New 1-Year High – Time to Buy?

First Foundation Inc. (NASDAQ:FFWM)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $6.55 and last traded at $6.5750, with a volume of 264664 shares. The stock had previously closed at $6.28.

Wall Street Analysts Forecast Growth

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

First Foundation Stock Down 0.2%

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 has a market capitalization of $539.16 million, a PE ratio of -4.85 and a beta of 0.92. The business’s 50 day simple moving average is $6.09 and its 200 day simple moving average is $5.69.

Institutional Investors Weigh In On First Foundation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FJ Capital Management LLC boosted its position in shares of First Foundation by 964.2% during the 2nd quarter. FJ Capital Management LLC now owns 1,478,574 shares of the bank’s stock worth $7,541,000 after purchasing an additional 1,339,637 shares during the period. Mirabella Financial Services LLP lifted its stake in First Foundation by 51.2% during the second quarter. Mirabella Financial Services LLP now owns 903,630 shares of the bank’s stock worth $4,609,000 after purchasing an additional 305,860 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of First Foundation during the third quarter worth $668,000. FLC Capital Advisors grew its stake in shares of First Foundation by 5.2% in the second quarter. FLC Capital Advisors now owns 148,171 shares of the bank’s stock valued at $756,000 after buying an additional 7,366 shares in the last quarter. Finally, Private Management Group Inc. purchased a new stake in shares of First Foundation in the 2nd quarter valued at $560,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Company Profile

First Foundation Inc is a bank holding company headquartered in Irvine, California, that provides a suite of banking and wealth management services through its subsidiary, First Foundation Bank, and affiliated advisory firms. The company’s primary focus lies in serving high-net-worth individuals, privately held businesses, professionals and entrepreneurs, offering a combination of personalized banking solutions and tailored investment advice.

On the banking side, First Foundation offers deposit products, business checking accounts, cash management services and specialized lending solutions.