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

Versor Investments LP acquired a new position in First Foundation Inc. (NASDAQ:FFWM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 47,800 shares of the bank’s stock, valued at approximately $244,000. Versor Investments LP owned approximately 0.06% of First Foundation as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC increased its stake in First Foundation by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 152,141 shares of the bank’s stock worth $776,000 after acquiring an additional 2,806 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of First Foundation by 10.9% during the 1st 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. FLC Capital Advisors grew its holdings in shares of First Foundation by 5.2% during the second quarter. FLC Capital Advisors now owns 148,171 shares of the bank’s stock worth $756,000 after purchasing an additional 7,366 shares in the last quarter. Quantbot Technologies LP increased its position in shares of First Foundation by 50.3% in 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 last quarter. Finally, Jump Financial LLC increased its position 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. Institutional investors own 73.10% of the company’s stock.

First Foundation Price Performance

Shares of NASDAQ:FFWM opened at $5.34 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The stock has a market cap of $439.69 million, a PE ratio of -3.98 and a beta of 1.05. The company’s fifty day moving average is $5.69 and its 200 day moving average is $5.41. First Foundation Inc. has a 52 week low of $4.41 and a 52 week high of $8.52.

Analysts Set New Price Targets

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

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.