Intech Investment Management LLC Purchases 3,794 Shares of First Foundation Inc. (NASDAQ:FFWM)

Intech Investment Management LLC raised its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,537 shares of the bank’s stock after purchasing an additional 3,794 shares during the quarter. Intech Investment Management LLC’s holdings in First Foundation were worth $128,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of First Foundation by 665.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after acquiring an additional 4,424 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in First Foundation during the 3rd quarter worth approximately $72,000. HighTower Advisors LLC purchased a new stake in shares of First Foundation in the third quarter worth approximately $87,000. Proficio Capital Partners LLC bought a new position in shares of First Foundation in the fourth quarter valued at approximately $123,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of First Foundation by 12.4% during the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock valued at $146,000 after buying an additional 2,579 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Foundation Stock Performance

FFWM stock opened at $4.95 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The firm has a market cap of $407.29 million, a PE ratio of -3.69 and a beta of 1.35. The business has a 50 day moving average of $5.26 and a 200-day moving average of $6.35. First Foundation Inc. has a 12-month low of $4.52 and a 12-month high of $8.52.

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.