First Foundation (NASDAQ:FFWM) Shares Up 3.7% - Here's Why

First Foundation Inc. (NASDAQ:FFWM) experienced a 3.7% increase in its share price on Friday, reaching as high as $6.21 before closing at the same price. During the trading session, about 142,754 shares changed hands, marking a significant drop of 76% compared to the average daily volume of 593,650 shares. The stock had previously ended the day at $5.99.

Analyst Opinions

Recently, several research analysts have commented on First Foundation. For instance, Stephens changed their rating from "strong-buy" to "hold" on October 1st. Additionally, StockNews.com downgraded the company from a "hold" rating to a "sell" rating on November 7th. Currently, one analyst has given the stock a sell rating, four analysts recommend holding, and one analyst suggests a buy. As per MarketBeat's data, First Foundation holds an average rating of "Hold" with a consensus target price of $7.80.

Stock Metrics

The company's financial metrics show a debt-to-equity ratio of 1.80, a quick ratio of 0.87, and a current ratio of 1.04. Over the past 50 days, its moving average stands at $7.52, while the two-hundred day moving average is recorded at $6.70. First Foundation has a market capitalization of $518.08 million, with a price-to-earnings ratio of -5.62. The stock's beta is noted at 1.34.

Investment Changes

Several hedge funds have also adjusted their holdings in First Foundation. For example, Charles Schwab Investment Management Inc. increased its stake by 21.9% during the third quarter, owning 503,824 shares valued at approximately $3,144,000 after purchasing an additional 90,612 shares. Similarly, Strategic Value Bank Partners LLC raised its position by 115.3%, accumulating 2,898,343 shares valued at around $18,086,000 after acquiring 1,551,861 shares in the last quarter. FMR LLC also boosted its holdings by 20.1%, now owning 6,099,900 shares worth $38,063,000 after adding 1,019,484 shares. Institutional investors and hedge funds currently own about 73.10% of First Foundation's stock.

About First Foundation

First Foundation Inc. offers a variety of financial services through its subsidiaries. The company provides banking, investment advisory, wealth management, and trust services to individuals and businesses across the United States. Its operations are divided into two segments: Banking and Wealth Management. The company offers several deposit and loan products, including personal and business checking accounts, savings accounts, various types of real estate loans, and consumer loans such as personal installment loans.

Market Considerations

As investors assess whether to invest in First Foundation, they should consider the various analysts ratings and financial metrics. While the company currently has a "Hold" rating, it is among other stocks that analysts consider as potentially better buys.

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