Centiva Capital LP Purchases New Position in First Foundation Inc. (NASDAQ:FFWM)

Centiva Capital LP purchased a new stake in First Foundation Inc. (NASDAQ:FFWM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,438 shares of the bank’s stock, valued at approximately $190,000.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC lifted its stake in First Foundation by 20.1% in the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. Royce & Associates LP raised its position in shares of First Foundation by 143.7% in the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after buying an additional 506,956 shares in the last quarter. Mendon Capital Advisors Corp raised its stake in First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after acquiring an additional 381,946 shares in the last quarter. Azora Capital LP boosted its holdings in shares of First Foundation by 8.8% during the 3rd quarter. Azora Capital LP now owns 4,090,296 shares of the bank’s stock valued at $25,523,000 after acquiring an additional 332,252 shares in the last quarter. Finally, Modera Wealth Management LLC bought a new stake in First Foundation during the 2nd quarter worth approximately $1,870,000. 73.10% of the stock is owned by institutional investors.

First Foundation Stock Performance

Shares of FFWM opened at $7.30 on Friday. First Foundation Inc. has a one year low of $4.84 and a one year high of $11.47. The company has a 50-day simple moving average of $7.51 and a two-hundred day simple moving average of $6.67. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $601.26 million, a PE ratio of -6.52 and a beta of 1.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stephens cut First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One 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. According to MarketBeat.com, First Foundation has a consensus rating of “Hold” and an average target price of $7.80.

First Foundation Company Profile

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.