First Foundation Inc. (NASDAQ:FFWM) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 882,390 shares of the bank’s stock after selling 6,300 shares during the period. Jacobs Levy Equity Management Inc. owned 1.56% of First Foundation worth $6,662,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of First Foundation in the 1st quarter worth $25,000. Caxton Associates LP acquired a new stake in shares of First Foundation in the 1st quarter worth $123,000. Quadrature Capital Ltd acquired a new stake in shares of First Foundation in the 4th quarter worth $126,000. TFO Wealth Partners LLC lifted its stake in shares of First Foundation by 38,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 16,896 shares of the bank’s stock worth $164,000 after acquiring an additional 16,852 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of First Foundation in the 1st quarter worth $171,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Price Performance

NASDAQ:FFWM traded up $0.03 during mid-day trading on Tuesday, hitting $6.95. 988,610 shares of the company’s stock traded hands, compared to its average volume of 635,366. The company has a market cap of $392.74 million, a PE ratio of -1.89 and a beta of 1.34. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $11.47. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day simple moving average is $5.94 and its 200 day simple moving average is $7.02.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $164.57 million during the quarter, compared to the consensus estimate of $54.23 million. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. During the same period in the previous year, the firm posted $0.07 earnings per share. Sell-side analysts expect that First Foundation Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FFWM. DA Davidson upgraded shares of First Foundation from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $9.00 in a report on Wednesday, July 3rd. Piper Sandler reiterated a “neutral” rating and issued a $6.00 price target on shares of First Foundation in a report on Wednesday, July 3rd. Stephens increased their price target on shares of First Foundation from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday. Raymond James downgraded shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.80.

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.