First Foundation Inc. $FFWM Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 618,288 shares of the bank’s stock after acquiring an additional 136,308 shares during the quarter. Goldman Sachs Group Inc. owned 0.75% of First Foundation worth $3,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FFWM. Vanguard Group Inc. increased its stake in shares of First Foundation by 8.3% during the first quarter. Vanguard Group Inc. now owns 4,141,752 shares of the bank’s stock worth $21,496,000 after acquiring an additional 316,949 shares during the period. Nuveen LLC acquired a new position in shares of First Foundation during the first quarter worth about $1,166,000. AQR Capital Management LLC increased its stake in shares of First Foundation by 223.7% during the first quarter. AQR Capital Management LLC now owns 318,673 shares of the bank’s stock worth $1,654,000 after acquiring an additional 220,222 shares during the period. Royce & Associates LP increased its stake in shares of First Foundation by 13.7% during the first quarter. Royce & Associates LP now owns 1,452,919 shares of the bank’s stock worth $7,541,000 after acquiring an additional 175,300 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of First Foundation by 11.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,603,952 shares of the bank’s stock worth $8,325,000 after acquiring an additional 159,570 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Performance

Shares of FFWM opened at $5.97 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $491.43 million, a price-to-earnings ratio of -4.45 and a beta of 1.04. The company’s 50 day simple moving average is $5.50 and its 200 day simple moving average is $5.23. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $8.52.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target on shares of First Foundation from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.25.

About First Foundation

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.