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

First Foundation Inc. (NASDAQ:FFWM)’s share price passed 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.

Analyst Ratings Changes

FFWM has been the topic of a number of recent analyst reports. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Piper Sandler dropped their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.75.

First Foundation Stock Performance

The business has a 50 day moving average of $5.70 and a 200-day moving average of $6.59. 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 company has a market capitalization of $417.18 million, a P/E ratio of -3.78 and a beta of 1.35.

Hedge Funds Weigh In On First Foundation

A number of hedge funds and other institutional investors have recently modified their holdings of the company. North Reef Capital Management LP increased its position in shares of First Foundation by 182.7% during the 4th quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank’s stock valued at $27,242,000 after purchasing an additional 2,835,000 shares during the last quarter. Strategic Value Bank Partners LLC increased its position in shares of First Foundation by 115.3% during the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after purchasing an additional 1,551,861 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of First Foundation during the 3rd quarter valued at about $8,373,000. FMR LLC increased its position in shares of First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of First Foundation by 25.4% during the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank’s stock valued at $23,752,000 after purchasing an additional 774,844 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.