StockNews.com lowered shares of First Foundation (NASDAQ:FFWM – Free Report) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
Separately, Stephens downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, First Foundation presently has a consensus rating of “Hold” and an average target price of $7.80.
Read Our Latest Report on FFWM
First Foundation Stock Up 3.6 %
Hedge Funds Weigh In On First Foundation
A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its holdings in First Foundation by 143.7% during the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after buying an additional 506,956 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in First Foundation during the 1st quarter valued at about $3,819,000. Mendon Capital Advisors Corp raised its stake in First Foundation by 144.3% in the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after buying an additional 381,946 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of First Foundation during the 2nd quarter worth $1,870,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of First Foundation in the 1st quarter valued at about $1,731,000. Institutional investors 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.
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