Alliancebernstein L.P. Has $1.50 Million Position in First Foundation Inc. (NASDAQ:FFWM)
Alliancebernstein L.P. lowered its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 241,542 shares of the bank's stock after selling 381,883 shares during the quarter. Alliancebernstein L.P. owned about 0.29% of First Foundation worth $1,500,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in First Foundation during the 4th quarter worth about $30,000. Farther Finance Advisors LLC raised its holdings in First Foundation by 665.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock worth $32,000 after acquiring an additional 4,424 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of First Foundation in the third quarter valued at $72,000. HighTower Advisors LLC acquired a new stake in First Foundation in the 3rd quarter valued at about $87,000. Finally, Fox Run Management L.L.C. bought a new stake in First Foundation in the fourth quarter valued at approximately $91,000. Institutional investors and hedge funds own 73.10% of the company's stock.
FFWM opened at $4.97 on Friday. 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 fifty-two week low of $4.42 and a fifty-two week high of $8.52. The company's 50 day moving average price is $4.95 and its two-hundred day moving average price is $6.17. The firm has a market capitalization of $408.94 million, a price-to-earnings ratio of -3.71 and a beta of 1.19.
Several analysts recently commented on the stock. Piper Sandler reduced their target price on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.75.
View Our Latest Stock Report on 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.
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