MetLife Investment Management LLC Buys 7,403 Shares of First Foundation Inc. (NASDAQ:FFWM)

MetLife Investment Management LLC grew its stake in First Foundation Inc. (NASDAQ:FFWM) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,927 shares of the bank’s stock after acquiring an additional 7,403 shares during the quarter. MetLife Investment Management LLC’s holdings in First Foundation were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of 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 in the last quarter. Royce & Associates LP lifted its holdings in shares of First Foundation by 143.7% during the 3rd quarter. Royce & Associates LP now owns 859,770 shares of the bank’s stock valued at $5,365,000 after purchasing an additional 506,956 shares in the last quarter. Mendon Capital Advisors Corp grew its position in shares of First Foundation by 144.3% in the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock valued at $4,236,000 after purchasing an additional 381,946 shares during the period. Modera Wealth Management LLC bought a new stake in First Foundation during the 2nd quarter worth approximately $1,870,000. Finally, Thrivent Financial for Lutherans acquired a new stake in First Foundation during the 2nd quarter worth approximately $838,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FFWM has been the topic of a number of research analyst reports. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, First Foundation currently has an average rating of “Hold” and an average target price of $7.80.

First Foundation Stock Up 0.3 %

Shares of FFWM stock opened at $7.78 on Monday. The firm’s fifty day moving average price is $7.39 and its two-hundred day moving average price is $6.63. First Foundation Inc. has a 1 year low of $4.84 and a 1 year high of $11.47. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $640.80 million, a P/E ratio of -6.95 and a beta of 1.34.

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.