First Foundation shares are trading higher after the company announced it will be reclassifying $1.9 billion from its multifamily portfolio from loans held to maturity to loans held for sale.
Portfolio Pulse from Benzinga Newsdesk
First Foundation shares rose after the company announced a reclassification of $1.9 billion from its multifamily portfolio from loans held to maturity to loans held for sale.
October 03, 2024 | 7:21 pm
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First Foundation's stock price increased following the announcement of reclassifying $1.9 billion from its multifamily portfolio from loans held to maturity to loans held for sale.
The reclassification of $1.9 billion in loans suggests a strategic shift in First Foundation's asset management, potentially improving liquidity and financial flexibility. This positive development likely contributed to the rise in stock price.
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