Jacobs Levy Equity Management Inc. Has $2.45 Million Holdings in First Foundation Inc. (NASDAQ:FFWM)

Jacobs Levy Equity Management Inc. reduced its holdings in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 395,125 shares of the bank's stock after selling 389,102 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.48% of First Foundation worth $2,454,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in First Foundation during the 4th quarter valued at approximately $775,000. Raymond James Financial Inc. acquired a new position in shares of First Foundation during the fourth quarter worth approximately $489,000. JPMorgan Chase & Co. boosted its position in shares of First Foundation by 234.5% in the fourth quarter. JPMorgan Chase & Co. now owns 167,940 shares of the bank's stock valued at $1,043,000 after acquiring an additional 117,730 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of First Foundation by 21.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank's stock valued at $3,814,000 after acquiring an additional 110,323 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of First Foundation by 665.3% in the fourth 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 during the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on FFWM. StockNews.com cut shares of First Foundation from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. Piper Sandler reduced their target price on shares of First Foundation from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, Jefferies Financial Group assumed coverage on First Foundation in a research note on Wednesday. They set a "buy" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.80.

First Foundation Price Performance

Shares of FFWM stock traded up $0.04 during mid-day trading on Wednesday, reaching $5.34. The company's stock had a trading volume of 95,673 shares, compared to its average volume of 634,572. The firm's 50-day moving average is $5.02 and its two-hundred day moving average is $5.86. The company has a market cap of $439.53 million, a P/E ratio of -3.98 and a beta of 1.01. First Foundation Inc. has a 1-year low of $4.42 and a 1-year high of $8.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.