Goldman Sachs Group Inc. Has $3.21 Million Holdings in First Foundation Inc. $FFWM

Key Points

• Goldman Sachs Group Inc. increased its stake in First Foundation Inc. by 28.3% during the first quarter, owning 618,288 shares valued at approximately $3.2 million.
• Other institutional investors, including Vanguard Group Inc. and AQR Capital Management LLC, also boosted their holdings in First Foundation, indicating a growing interest among major players with 73.10% of the stock owned by institutional investors.
• Analyst ratings for First Foundation suggest a consensus of a "Hold" with a price target adjustment from $6.00 to $5.50 by Piper Sandler, highlighting potential caution among analysts.

Goldman Sachs Group Inc. raised its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 28.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 618,288 shares of the bank's stock after buying an additional 136,308 shares during the quarter. Goldman Sachs Group Inc. owned 0.75% of First Foundation worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mendon Capital Advisors Corp increased its stake in First Foundation by 23.2% in the first quarter. Mendon Capital Advisors Corp now owns 460,386 shares of the bank's stock valued at $2,389,000 after purchasing an additional 86,675 shares in the last quarter. Jane Street Group LLC increased its position in shares of First Foundation by 273.2% in the 1st quarter. Jane Street Group LLC now owns 110,230 shares of the bank's stock valued at $572,000 after buying an additional 80,696 shares in the last quarter. EJF Capital LLC raised its stake in First Foundation by 53.3% during the 1st quarter. EJF Capital LLC now owns 265,378 shares of the bank's stock worth $1,377,000 after buying an additional 92,212 shares during the period. Curi RMB Capital LLC raised its stake in First Foundation by 26.8% during the 1st quarter. Curi RMB Capital LLC now owns 400,000 shares of the bank's stock worth $2,076,000 after buying an additional 84,500 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in First Foundation by 223.7% during the first quarter. AQR Capital Management LLC now owns 318,673 shares of the bank's stock worth $1,654,000 after acquiring an additional 220,222 shares in the last quarter. Institutional investors own 73.10% of the company's stock.

First Foundation Stock Performance

Shares of FFWM stock traded down $0.02 during midday trading on Monday, hitting $5.78. 654,932 shares of the company were exchanged, compared to its average volume of 720,701. First Foundation Inc. has a 52 week low of $4.41 and a 52 week high of $8.52. The firm has a market capitalization of $475.78 million, a P/E ratio of -4.31 and a beta of 1.04. The firm's 50 day moving average price is $5.51 and its two-hundred day moving average price is $5.25. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $6.25.

First Foundation 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.