Vanguard Personalized Indexing Management LLC Trims Position in First Foundation Inc. $FFWM

Vanguard Personalized Indexing Management LLC cut its holdings in shares of First Foundation Inc. (NASDAQ:FFWM) by 46.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,695 shares of the bank’s stock after selling 14,422 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in First Foundation were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cloud Capital Management LLC acquired a new stake in First Foundation during the first quarter worth about $25,000. XTX Topco Ltd acquired a new stake in First Foundation during the 1st quarter worth approximately $122,000. MetLife Investment Management LLC raised its holdings in First Foundation by 10.9% in the first quarter. MetLife Investment Management LLC now owns 33,586 shares of the bank’s stock valued at $174,000 after buying an additional 3,301 shares during the period. L & S Advisors Inc acquired a new position in First Foundation during the first quarter valued at approximately $219,000. Finally, Quantbot Technologies LP lifted its position in First Foundation by 50.3% during the first quarter. Quantbot Technologies LP now owns 55,363 shares of the bank’s stock valued at $287,000 after buying an additional 18,533 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on shares of First Foundation from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.25.

First Foundation Stock Performance

Shares of FFWM stock opened at $5.55 on Monday. The stock has a market capitalization of $456.83 million, a price-to-earnings ratio of -4.14 and a beta of 0.99. First Foundation Inc. has a one year low of $4.41 and a one year high of $8.52. The company’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $5.38. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.