Millstone Evans Group LLC Takes Position in First Foundation Inc. (NASDAQ:FFWM)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Intech Investment Management LLC increased its holdings in First Foundation by 22.7% during the 4th quarter. Intech Investment Management LLC now owns 20,537 shares of the bank’s stock worth $128,000 after purchasing an additional 3,794 shares during the last quarter. Royce & Associates LP increased its stake in shares of First Foundation by 48.6% in the fourth quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock worth $7,934,000 after buying an additional 417,849 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in First Foundation by 665.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock valued at $32,000 after acquiring an additional 4,424 shares in the last quarter. Raymond James Financial Inc. bought a new position in First Foundation during the 4th quarter valued at $489,000. Finally, Proficio Capital Partners LLC acquired a new position in First Foundation during the 4th quarter worth $123,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Stock Performance

First Foundation stock opened at $4.92 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation Inc. has a 12 month low of $4.52 and a 12 month high of $8.52. The company has a fifty day moving average price of $5.33 and a two-hundred day moving average price of $6.39. The company has a market cap of $404.82 million, a PE ratio of -3.67 and a beta of 1.35.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price 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 analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

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.