Jacobs Levy Equity Management Inc. Sells 6,300 Shares of First Foundation Inc. (NASDAQ:FFWM)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 882,390 shares of the bank’s stock after selling 6,300 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in First Foundation were worth $6,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FFWM. Lord Abbett & CO. LLC bought a new position in First Foundation during the 1st quarter valued at approximately $3,819,000. rhino investment partners Inc bought a new position in First Foundation during the 4th quarter valued at approximately $4,093,000. Kennedy Capital Management LLC bought a new position in First Foundation during the 1st quarter valued at approximately $1,731,000. BHZ Capital Management LP raised its position in First Foundation by 33.7% during the 4th quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock valued at $7,186,000 after purchasing an additional 187,182 shares during the last quarter. Finally, Verdad Advisers LP raised its position in First Foundation by 175.0% during the 4th quarter. Verdad Advisers LP now owns 165,000 shares of the bank’s stock valued at $1,597,000 after purchasing an additional 105,000 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Up 0.4 %

Shares of First Foundation stock traded up $0.03 during midday trading on Tuesday, hitting $6.95. The company had a trading volume of 988,610 shares, compared to its average volume of 635,366. 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 stock has a market capitalization of $392.74 million, a P/E ratio of -1.89 and a beta of 1.34. The company has a 50 day moving average of $5.94 and a 200 day moving average of $7.02. First Foundation Inc. has a 52-week low of $4.41 and a 52-week high of $11.47.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $164.57 million for the quarter, compared to the consensus estimate of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same quarter in the prior year, the business posted $0.07 EPS. On average, equities analysts predict that First Foundation Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FFWM shares. Piper Sandler reiterated a “neutral” rating and set a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. Stephens upped their target price on First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday. Wedbush reduced their target price on First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Friday. Finally, Raymond James downgraded First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.80.

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.