Fox Run Management L.L.C. Acquires Shares of 14,697 First Foundation Inc. (NASDAQ:FFWM)

Fox Run Management L.L.C. bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,697 shares of the bank’s stock, valued at approximately $91,000.

Several other hedge funds have also modified their holdings of the business. Millstone Evans Group LLC purchased a new position in First Foundation in the fourth quarter worth $30,000. Farther Finance Advisors LLC increased its holdings in shares of First Foundation by 665.3% in the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock valued at $32,000 after purchasing an additional 4,424 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of First Foundation in the third quarter valued at about $72,000. HighTower Advisors LLC purchased a new stake in First Foundation during the third quarter worth about $87,000. Finally, Intech Investment Management LLC acquired a new position in First Foundation during the third quarter worth about $104,000. 73.10% of the stock is owned by institutional investors and hedge funds.

First Foundation Trading Up 0.1 %

First Foundation stock opened at $4.95 on Friday. The stock has a market cap of $407.95 million, a PE ratio of -3.70 and a beta of 1.35. 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 moving average price of $5.23 and a 200 day moving average price of $6.34. First Foundation Inc. has a 52 week low of $4.52 and a 52 week high of $8.52.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price target on 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.