First Foundation (NASDAQ:FFWM) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

First Foundation Inc. (NASDAQ:FFWM) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.00 and traded as high as $6.19. First Foundation shares last traded at $6.0850, with a volume of 2,107,423 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler set a $6.75 price objective on First Foundation and gave the stock an “overweight” rating in a report on Monday, November 3rd. Stephens upgraded shares of First Foundation from an “underperform” rating to an “overweight” rating in a report on Friday, October 31st. Finally, DA Davidson restated a “neutral” rating and issued a $6.00 price target (down previously from $8.50) on shares of First Foundation in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.58.

First Foundation Price Performance

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 50-day simple moving average of $6.00 and a 200 day simple moving average of $5.66. The stock has a market capitalization of $504.35 million, a price-to-earnings ratio of -4.54 and a beta of 0.92.

Institutional Investors Weigh In On First Foundation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of First Foundation by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,106,809 shares of the bank’s stock valued at $22,875,000 after buying an additional 357,859 shares during the period. Maltese Capital Management LLC raised its holdings in shares of First Foundation by 5.4% during the third quarter. Maltese Capital Management LLC now owns 2,330,149 shares of the bank’s stock worth $12,979,000 after acquiring an additional 118,949 shares in the last quarter. FJ Capital Management LLC boosted its position in First Foundation by 39.2% during the third quarter. FJ Capital Management LLC now owns 2,057,660 shares of the bank’s stock valued at $11,461,000 after purchasing an additional 579,086 shares during the last quarter. Royce & Associates LP boosted its position in First Foundation by 18.7% during the third quarter. Royce & Associates LP now owns 1,811,991 shares of the bank’s stock valued at $10,093,000 after purchasing an additional 285,944 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in First Foundation by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,648,635 shares of the bank’s stock valued at $8,410,000 after purchasing an additional 8,002 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

About First Foundation

First Foundation Inc is a bank holding company headquartered in Irvine, California, that provides a suite of banking and wealth management services through its subsidiary, First Foundation Bank, and affiliated advisory firms. The company’s primary focus lies in serving high-net-worth individuals, privately held businesses, professionals and entrepreneurs, offering a combination of personalized banking solutions and tailored investment advice.

On the banking side, First Foundation offers deposit products, business checking accounts, cash management services and specialized lending solutions.