Azora Capital LP Purchases 332,252 Shares of First Foundation Inc. (NASDAQ:FFWM)

Azora Capital LP lifted its position in First Foundation Inc. (NASDAQ:FFWM) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,090,296 shares of the bank’s stock after acquiring an additional 332,252 shares during the quarter. First Foundation accounts for 1.4% of Azora Capital LP’s portfolio, making the stock its 24th largest position. Azora Capital LP owned about 4.97% of First Foundation worth $25,523,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in First Foundation in the second quarter worth about $563,000. Elizabeth Park Capital Advisors Ltd. lifted its stake in shares of First Foundation by 26.7% during the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 463,953 shares of the bank’s stock worth $3,039,000 after acquiring an additional 97,732 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in First Foundation during the 2nd quarter valued at $838,000. Mendon Capital Advisors Corp grew its position in First Foundation by 144.3% in the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock valued at $4,236,000 after acquiring an additional 381,946 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in First Foundation in the second quarter worth $1,870,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

First Foundation Stock Performance

Shares of First Foundation stock opened at $7.95 on Monday. 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’s fifty day moving average price is $7.23 and its 200-day moving average price is $6.57. The firm has a market cap of $654.68 million, a P/E ratio of -7.10 and a beta of 1.30. First Foundation Inc. has a 12 month low of $4.84 and a 12 month high of $11.47.

Analyst Ratings Changes

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