MetLife Investment Management LLC Purchases 7,403 Shares of First Foundation Inc. (NASDAQ:FFWM)

MetLife Investment Management LLC increased its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 26.0% in the third quarter, HoldingsChannel reports. The firm owned 35,927 shares of the bank’s stock after buying an additional 7,403 shares during the period. MetLife Investment Management LLC’s holdings in First Foundation were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of First Foundation by 90.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 129,139 shares of the bank’s stock worth $806,000 after buying an additional 61,347 shares during the period. Quantbot Technologies LP lifted its position in First Foundation by 50.2% during the third quarter. Quantbot Technologies LP now owns 38,008 shares of the bank’s stock worth $237,000 after acquiring an additional 12,703 shares during the last quarter. FMR LLC grew its position in shares of First Foundation by 20.1% in the third quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after purchasing an additional 1,019,484 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of First Foundation by 12.4% during the third quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank’s stock worth $146,000 after purchasing an additional 2,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in First Foundation by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock worth $3,144,000 after purchasing an additional 90,612 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FFWM. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and an average target price of $7.80.

First Foundation Price Performance

FFWM stock opened at $7.78 on Monday. The company’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $6.63. The firm has a market cap of $640.80 million, a P/E ratio of -6.95 and a beta of 1.34. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. First Foundation Inc. has a 12 month low of $4.84 and a 12 month high of $11.47.

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.