Invenomic Capital Management LP Has $6.98 Million Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Invenomic Capital Management LP trimmed its position in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,123,530 shares of the bank's stock after selling 218,318 shares during the period. Invenomic Capital Management LP owned about 1.36% of First Foundation worth $6,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Reef Capital Management LP raised its stake in shares of First Foundation by 182.7% during the 4th quarter. North Reef Capital Management LP now owns 4,386,861 shares of the bank's stock worth $27,242,000 after purchasing an additional 2,835,000 shares in the last quarter. Azora Capital LP increased its holdings in First Foundation by 1.6% in the fourth quarter. Azora Capital LP now owns 4,153,917 shares of the bank's stock worth $25,796,000 after buying an additional 63,621 shares during the last quarter. Fortress Investment Group LLC raised its position in First Foundation by 21.5% during the fourth quarter. Fortress Investment Group LLC now owns 4,038,750 shares of the bank's stock valued at $25,081,000 after acquiring an additional 714,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in First Foundation by 25.4% in the fourth quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank's stock valued at $23,752,000 after acquiring an additional 774,844 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of First Foundation by 19.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank's stock valued at $14,711,000 after purchasing an additional 379,288 shares in the last quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FFWM has been the subject of several recent analyst reports. Piper Sandler decreased their price target on First Foundation from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of First Foundation from a "hold" rating to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.75.

First Foundation Stock Performance

FFWM traded down $0.07 during midday trading on Wednesday, reaching $5.34. The company's stock had a trading volume of 529,912 shares, compared to its average volume of 634,937. 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 company has a fifty day simple moving average of $4.97 and a 200 day simple moving average of $5.92. The stock has a market cap of $439.94 million, a P/E ratio of -3.99 and a beta of 1.01. First Foundation Inc. has a twelve month low of $4.42 and a twelve month high of $8.52.

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.