Quadrature Capital Ltd Lowers Holdings in First Foundation Inc. (NASDAQ:FFWM)

Quadrature Capital Ltd lessened its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 56.1% during the third quarter, HoldingsChannel reports. The firm owned 12,875 shares of the bank’s stock after selling 16,477 shares during the period. Quadrature Capital Ltd’s holdings in First Foundation were worth $80,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC acquired a new position in shares of First Foundation in the 3rd quarter worth approximately $87,000. Creative Planning boosted its stake in First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares in the last quarter. Intech Investment Management LLC purchased a new position in First Foundation in the 3rd quarter worth about $104,000. Hollencrest Capital Management lifted its holdings in shares of First Foundation by 76.5% in the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of First Foundation by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares in the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on FFWM shares. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.80.

First Foundation Price Performance

Shares of First Foundation stock opened at $7.30 on Friday. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47. The firm’s 50-day moving average price is $7.51 and its two-hundred day moving average price is $6.67. 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 market capitalization of $601.26 million, a price-to-earnings ratio of -6.52 and a beta of 1.34.

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.