Jacobs Levy Equity Management Inc. Lowers Holdings in First Foundation Inc. (NASDAQ:FFWM)

Jacobs Levy Equity Management Inc. reduced its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 784,227 shares of the bank’s stock after selling 222,645 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in First Foundation were worth $4,894,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC purchased a new position in First Foundation during the third quarter worth approximately $87,000. Creative Planning increased its holdings in shares of First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after buying an additional 4,336 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of First Foundation in the 3rd quarter worth $104,000. Hollencrest Capital Management boosted its holdings in First Foundation by 76.5% in the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,632 shares during the period. 73.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FFWM has been the topic of a number of research reports. Stephens downgraded 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 given a hold rating and one has given a buy rating to the stock. According to MarketBeat, First Foundation has a consensus rating of “Hold” and an average price target of $7.80.

First Foundation Stock Performance

Shares of NASDAQ:FFWM opened at $7.78 on Friday. The company has a market cap of $640.68 million, a P/E ratio of -6.95 and a beta of 1.34. First Foundation Inc. has a one year low of $4.84 and a one year high of $11.47. The business’s 50-day simple moving average is $7.39 and its 200 day simple moving average is $6.62. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.