Jane Street Group LLC Reduces Holdings in First Foundation Inc. (NASDAQ:FFWM)

Jane Street Group LLC lowered its position in First Foundation Inc. (NASDAQ:FFWM) by 52.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,929 shares of the bank’s stock after selling 61,782 shares during the quarter. Jane Street Group LLC owned about 0.07% of First Foundation worth $349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FFWM. Strategic Value Bank Partners LLC boosted its stake in shares of First Foundation by 115.3% during the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after purchasing an additional 1,551,861 shares during the period. Invenomic Capital Management LP bought a new stake in First Foundation during the 3rd quarter valued at about $8,373,000. FMR LLC boosted its position in First Foundation by 20.1% in the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after buying an additional 1,019,484 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new stake in First Foundation in the 3rd quarter valued at about $4,428,000. Finally, Royce & Associates LP grew its stake in First Foundation by 143.7% in the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock worth $5,365,000 after acquiring an additional 506,956 shares in the last quarter. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FFWM. StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, First Foundation presently has a consensus rating of “Hold” and an average target price of $6.75.

First Foundation Stock Down 1.7 %

FFWM stock opened at $5.96 on Thursday. The stock has a market capitalization of $490.90 million, a PE ratio of -5.32 and a beta of 1.37. First Foundation Inc. has a 52 week low of $4.84 and a 52 week high of $11.47. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $7.14 and a 200 day moving average of $6.74.

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.