Jump Financial LLC Increases Position in First Foundation Inc. (NASDAQ:FFWM)

Jump Financial LLC increased its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,935 shares of the bank’s stock after buying an additional 24,235 shares during the period. Jump Financial LLC owned about 0.07% of First Foundation worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of First Foundation by 25.4% in the fourth quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank’s stock valued at $23,752,000 after buying an additional 774,844 shares in the last quarter. Royce & Associates LP increased its holdings in First Foundation by 48.6% during the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock valued at $7,934,000 after acquiring an additional 417,849 shares in the last quarter. Federated Hermes Inc. increased its holdings in First Foundation by 283.5% during the 4th quarter. Federated Hermes Inc. now owns 564,167 shares of the bank’s stock valued at $3,503,000 after acquiring an additional 417,044 shares in the last quarter. Geode Capital Management LLC raised its position in First Foundation by 21.3% during the third quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock worth $8,844,000 after acquiring an additional 249,237 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of First Foundation in the fourth quarter valued at about $775,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FFWM shares. Piper Sandler cut their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, First Foundation has a consensus rating of “Hold” and a consensus target price of $6.75.

First Foundation Trading Down 5.0 %

NASDAQ:FFWM opened at $4.82 on Friday. The business’s 50-day moving average is $4.91 and its two-hundred day moving average is $6.11. The firm has a market capitalization of $396.59 million, a PE ratio of -3.59 and a beta of 1.19. First Foundation Inc. has a 12 month low of $4.42 and a 12 month high of $8.52. 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 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.