First Foundation (NASDAQ:FFWM) Shares Cross Below 200-Day Moving Average – Here’s Why

First Foundation Inc. (NASDAQ:FFWM)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.71 and traded as low as $5.11. First Foundation shares last traded at $5.13, with a volume of 449,416 shares traded.

Analyst Ratings Changes

Several research firms have commented on FFWM. Piper Sandler cut their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com cut shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.75.

First Foundation Trading Down 5.6 %

The company has a 50 day simple moving average of $6.25 and a 200 day simple moving average of $6.71. 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 $422.10 million, a PE ratio of -3.82 and a beta of 1.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of First Foundation by 20.1% in 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. Azora Capital LP grew its stake in shares of First Foundation by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,090,296 shares of the bank’s stock valued at $25,523,000 after purchasing an additional 332,252 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of First Foundation by 25.4% in 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. Strategic Value Bank Partners LLC grew its stake in shares of First Foundation by 115.3% in 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. Finally, State Street Corp grew its stake in shares of First Foundation by 2.0% in the 3rd quarter. State Street Corp now owns 1,863,369 shares of the bank’s stock valued at $11,627,000 after purchasing an additional 36,338 shares during the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.