First Foundation (NASDAQ:FFWM) Sees Strong Trading Volume – Here’s Why

First Foundation Inc. (NASDAQ:FFWM) saw unusually-strong trading volume on Wednesday . Approximately 1,240,632 shares were traded during mid-day trading, an increase of 222% from the previous session’s volume of 384,748 shares.The stock last traded at $6.3140 and had previously closed at $6.11.

Analysts Set New Price Targets

FFWM has been the topic of several research reports. Stephens raised shares of First Foundation from an “underperform” rating to an “overweight” rating in a research report on Friday, October 31st. Piper Sandler set a $6.75 price target on shares of First Foundation and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $6.00 price objective (down previously from $8.50) on shares of First Foundation in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.58.

First Foundation Price Performance

The stock has a market cap of $525.48 million, a P/E ratio of -4.73 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The business’s 50-day simple moving average is $5.84 and its two-hundred day simple moving average is $5.63.

Hedge Funds Weigh In On First Foundation

A number of large investors have recently made changes to their positions in FFWM. Cloud Capital Management LLC purchased a new position in shares of First Foundation in the third quarter valued at $27,000. Mercer Global Advisors Inc. ADV bought a new position in First Foundation in the 3rd quarter worth about $68,000. Inceptionr LLC bought a new position in First Foundation in the 2nd quarter worth about $74,000. Arcus Capital Partners LLC purchased a new position in First Foundation during the 3rd quarter valued at about $97,000. Finally, Cypress Wealth Services LLC bought a new stake in shares of First Foundation during the fourth quarter valued at about $100,000. 73.10% of the stock is owned by institutional investors.

First Foundation Company Profile

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.