Jacobs Levy Equity Management Inc. Trims Position in First Foundation Inc. (NASDAQ:FFWM)

Jacobs Levy Equity Management Inc. lessened its stake in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 49.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 395,125 shares of the bank's stock after selling 389,102 shares during the period. Jacobs Levy Equity Management Inc. owned 0.48% of First Foundation worth $2,454,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in First Foundation in the 4th quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in First Foundation by 665.3% during the 4th quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank's stock worth $32,000 after acquiring an additional 4,424 shares in the last quarter. Fox Run Management L.L.C. bought a new position in First Foundation during the 4th quarter worth about $91,000. Virtu Financial LLC bought a new position in First Foundation during the 4th quarter worth about $116,000. Finally, Proficio Capital Partners LLC bought a new position in First Foundation during the 4th quarter worth about $123,000. Hedge funds and other institutional investors own 73.10% of the company's stock.

Analyst Ratings Changes

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

First Foundation Stock Down 0.2%

NASDAQ:FFWM opened at $5.34 on Friday. First Foundation Inc. has a fifty-two week low of $4.42 and a fifty-two week high of $8.52. The stock has a market capitalization of $439.94 million, a P/E ratio of -3.99 and a beta of 1.01. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The company's 50-day simple moving average is $4.98 and its 200-day simple moving average is $5.90.

About First Foundation

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.

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