Jane Street Group LLC Lowers Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Jane Street Group LLC lessened its position in shares of First Foundation Inc. (NASDAQ:FFWMFree Report) by 52.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,929 shares of the bank’s stock after selling 61,782 shares during the quarter. Jane Street Group LLC’s holdings in First Foundation were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Value Bank Partners LLC raised its holdings in First Foundation by 115.3% in the 3rd quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock worth $18,086,000 after purchasing an additional 1,551,861 shares during the period. Invenomic Capital Management LP purchased a new stake in shares of First Foundation in the third quarter valued at approximately $8,373,000. FMR LLC increased 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 buying an additional 1,019,484 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of First Foundation during the 3rd quarter worth approximately $4,428,000. Finally, Royce & Associates LP lifted its position in shares of First Foundation by 143.7% during the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after buying an additional 506,956 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Stock Performance

First Foundation stock opened at $5.96 on Thursday. The firm has a 50 day simple moving average of $7.14 and a 200-day simple moving average of $6.74. The stock has a market cap of $490.90 million, a price-to-earnings ratio of -5.32 and a beta of 1.37. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47.

Analyst Ratings Changes

Several brokerages have recently issued reports on FFWM. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Stephens cut First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.75.

Check Out Our Latest Report on First Foundation

About First Foundation

(Free Report)

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.

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Institutional Ownership by Quarter for First Foundation (NASDAQ:FFWM)

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