Strategic Value Bank Partners LLC Buys 1,551,861 Shares of First Foundation Inc. (NASDAQ:FFWM)

Strategic Value Bank Partners LLC lifted its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 115.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,898,343 shares of the bank’s stock after purchasing an additional 1,551,861 shares during the period. First Foundation makes up about 11.1% of Strategic Value Bank Partners LLC’s holdings, making the stock its 2nd biggest position. Strategic Value Bank Partners LLC owned 3.52% of First Foundation worth $18,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC purchased a new position in First Foundation in the third quarter valued at about $87,000. Creative Planning grew its stake in First Foundation by 35.8% in the third quarter. Creative Planning now owns 16,463 shares of the bank’s stock valued at $103,000 after purchasing an additional 4,336 shares in the last quarter. Intech Investment Management LLC purchased a new position in First Foundation in the third quarter valued at about $104,000. Boston Partners purchased a new position in First Foundation in the first quarter valued at about $128,000. Finally, Hollencrest Capital Management grew its stake in First Foundation by 76.5% in the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after purchasing an additional 8,600 shares in the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on FFWM shares. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.80.

First Foundation Stock Performance

NASDAQ:FFWM opened at $7.94 on Thursday. The firm has a market capitalization of $653.86 million, a PE ratio of 46.18 and a beta of 1.34. The firm has a 50-day moving average price of $7.33 and a 200 day moving average price of $6.61. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12-month low of $4.84 and a 12-month high of $11.47.

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.