Millstone Evans Group LLC Buys Shares of 4,854 First Foundation Inc. (NASDAQ:FFWM)

Millstone Evans Group LLC purchased a new position in shares of First Foundation Inc. (NASDAQ:FFWM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,854 shares of the bank’s stock, valued at approximately $30,000.

Several other hedge funds have also made changes to their positions in FFWM. Farther Finance Advisors LLC grew its stake in First Foundation by 665.3% during the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after buying an additional 4,424 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of First Foundation during the third quarter worth about $72,000. HighTower Advisors LLC acquired a new stake in shares of First Foundation in the 3rd quarter worth about $87,000. Intech Investment Management LLC bought a new stake in First Foundation in the 3rd quarter valued at about $104,000. Finally, Proficio Capital Partners LLC acquired a new position in First Foundation during the 4th quarter valued at about $123,000. Institutional investors own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, First Foundation presently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Price Performance

Shares of FFWM opened at $4.92 on Tuesday. The firm has a market capitalization of $404.82 million, a price-to-earnings ratio of -3.67 and a beta of 1.35. The stock’s fifty day moving average is $5.33 and its 200-day moving average is $6.39. First Foundation Inc. has a one year low of $4.52 and a one year high of $8.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.