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

First Foundation Inc. (NASDAQ:FFWM) crossed 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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Piper Sandler lowered their target price on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.75.

First Foundation Price Performance

The stock has a market capitalization of $422.10 million, a price-to-earnings ratio of -3.82 and a beta of 1.35. 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 50 day moving average of $6.25 and a 200 day moving average of $6.71.

Institutional Trading of First Foundation

Institutional investors have recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in shares of First Foundation during the 4th quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of 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 acquired a new position in shares of First Foundation in the 3rd quarter valued at $72,000. HighTower Advisors LLC acquired a new position in shares of First Foundation in the 3rd quarter valued at $87,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of First Foundation in the 4th quarter valued at $91,000. 73.10% of the stock is 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.