First Foundation (NASDAQ:FFWM) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

First Foundation Inc. (NASDAQ:FFWM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.59 and traded as low as $4.96. First Foundation shares last traded at $5.07, with a volume of 530,393 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FFWM. Piper Sandler dropped their price objective on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One investment 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation Trading Up 1.7 %

The company has a market cap of $417.18 million, a PE ratio of -3.78 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 stock has a 50 day moving average price of $5.70 and a 200 day moving average price of $6.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in First Foundation by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock valued at $3,144,000 after buying an additional 90,612 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in First Foundation during the fourth quarter valued at $775,000. Strategic Value Bank Partners LLC raised its stake in First Foundation by 115.3% during the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after buying an additional 1,551,861 shares during the last quarter. Geode Capital Management LLC raised its stake in First Foundation by 21.3% during the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock valued at $8,844,000 after buying an additional 249,237 shares during the last quarter. Finally, FMR LLC raised its stake in First Foundation by 20.1% during the third quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after buying an additional 1,019,484 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.