Walleye Capital LLC Has $95,000 Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

Walleye Capital LLC reduced its holdings in First Foundation Inc. (NASDAQ:FFWM) by 81.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,255 shares of the bank’s stock after selling 66,167 shares during the period. Walleye Capital LLC’s holdings in First Foundation were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FFWM. SG Americas Securities LLC acquired a new stake in shares of First Foundation during the second quarter worth $162,000. Bank of New York Mellon Corp lifted its stake in shares of First Foundation by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 188,112 shares of the bank’s stock valued at $1,232,000 after buying an additional 15,190 shares in the last quarter. Modera Wealth Management LLC bought a new position in shares of First Foundation in the second quarter valued at $1,870,000. American Century Companies Inc. lifted its stake in shares of First Foundation by 1.5% in the second quarter. American Century Companies Inc. now owns 500,490 shares of the bank’s stock valued at $3,278,000 after buying an additional 7,302 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First Foundation by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock valued at $12,294,000 after buying an additional 24,440 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

First Foundation Price Performance

FFWM stock opened at $7.30 on Friday. First Foundation Inc. has a 12 month low of $4.84 and a 12 month high of $11.47. The firm has a market capitalization of $601.26 million, a P/E ratio of -6.52 and a beta of 1.34. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $7.51 and a 200-day moving average of $6.67.

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.