Versor Investments LP Takes Position in First Foundation Inc. $FFWM

Versor Investments LP bought a new position in First Foundation Inc. (NASDAQ:FFWM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,800 shares of the bank’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FFWM. XTX Topco Ltd purchased a new stake in First Foundation during the 1st quarter valued at $122,000. MetLife Investment Management LLC raised its stake in shares of First Foundation by 10.9% during the first quarter. MetLife Investment Management LLC now owns 33,586 shares of the bank’s stock valued at $174,000 after acquiring an additional 3,301 shares during the last quarter. L & S Advisors Inc purchased a new stake in shares of First Foundation during the first quarter worth about $219,000. Quantbot Technologies LP boosted its holdings in shares of First Foundation by 50.3% during the first quarter. Quantbot Technologies LP now owns 55,363 shares of the bank’s stock worth $287,000 after purchasing an additional 18,533 shares during the period. Finally, Jump Financial LLC grew its stake in shares of First Foundation by 33.6% in the first quarter. Jump Financial LLC now owns 81,415 shares of the bank’s stock worth $423,000 after purchasing an additional 20,480 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors.

First Foundation Stock Down 0.8%

FFWM stock opened at $5.34 on Friday. First Foundation Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $8.52. The company has a market capitalization of $439.69 million, a price-to-earnings ratio of -3.98 and a beta of 1.05. The business’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $5.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FFWM shares. Piper Sandler set a $6.75 price target on First Foundation and gave the company an “overweight” rating in a research report on Monday. Stephens upgraded First Foundation from an “underperform” rating to an “overweight” rating in a report on Friday, October 31st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $6.00 price target (down previously from $8.50) on shares of First Foundation in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.58.

First Foundation 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.