First Foundation Inc. $FFWM Shares Bought by EJF Capital LLC

EJF Capital LLC raised its holdings in First Foundation Inc. (NASDAQ:FFWM) by 267.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 661,308 shares of the bank’s stock after acquiring an additional 481,291 shares during the period. First Foundation accounts for about 2.1% of EJF Capital LLC’s holdings, making the stock its 11th biggest position. EJF Capital LLC’s holdings in First Foundation were worth $3,683,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Rafferty Asset Management LLC grew its position in shares of First Foundation by 17.6% in the third quarter. Rafferty Asset Management LLC now owns 125,313 shares of the bank’s stock valued at $698,000 after purchasing an additional 18,726 shares during the period. Quantbot Technologies LP boosted its stake in First Foundation by 11.1% in the 3rd quarter. Quantbot Technologies LP now owns 64,472 shares of the bank’s stock worth $359,000 after buying an additional 6,417 shares during the last quarter. Oppenheimer & Close LLC boosted its stake in First Foundation by 90.1% in the 3rd quarter. Oppenheimer & Close LLC now owns 84,387 shares of the bank’s stock worth $470,000 after buying an additional 40,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in First Foundation by 9.5% in 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. Finally, JPMorgan Chase & Co. increased its stake in shares of First Foundation by 633.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,714 shares of the bank’s stock valued at $2,377,000 after acquiring an additional 368,527 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler set a $6.75 price objective on shares of First Foundation and gave the stock an “overweight” rating in a report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.58.

First Foundation Stock Performance

First Foundation stock opened at $5.86 on Friday. The stock’s 50-day moving average is $6.21 and its 200-day moving average is $5.83. The company has a market cap of $485.29 million, a price-to-earnings ratio of -4.37 and a beta of 0.93. 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 $4.41 and a 12 month high of $6.72.

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.