MetLife Investment Management LLC Lowers Stock Holdings in First Foundation Inc. (NASDAQ:FFWM)

MetLife Investment Management LLC lowered its stake in First Foundation Inc. (NASDAQ:FFWM) by 15.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,285 shares of the bank’s stock after selling 5,642 shares during the period. MetLife Investment Management LLC’s holdings in First Foundation were worth $188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FFWM. Vanguard Group Inc. grew its stake 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 worth $23,752,000 after acquiring an additional 774,844 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Foundation by 19.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,965 shares of the bank’s stock valued at $14,711,000 after purchasing an additional 379,288 shares during the last quarter. Geode Capital Management LLC increased its stake in First Foundation by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 1,593,473 shares of the bank’s stock valued at $9,898,000 after purchasing an additional 176,510 shares in the last quarter. Royce & Associates LP raised its holdings in First Foundation by 48.6% in the fourth quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock worth $7,934,000 after buying an additional 417,849 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of First Foundation by 21.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 614,147 shares of the bank’s stock worth $3,814,000 after buying an additional 110,323 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Stock Performance

Shares of FFWM opened at $5.23 on Friday. The firm has a market capitalization of $430.47 million, a P/E ratio of -3.90 and a beta of 1.01. 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 one year low of $4.42 and a one year high of $8.52. The business has a fifty day moving average of $4.93 and a 200 day moving average of $5.98.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler decreased their price target on First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, First Foundation has a consensus rating of “Hold” and an average price target of $6.75.

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.