Jacobs Levy Equity Management Inc. Has $4.89 Million Holdings in First Foundation Inc. (NASDAQ:FFWM)

Jacobs Levy Equity Management Inc. lessened its position in First Foundation Inc. (NASDAQ:FFWM - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 784,227 shares of the bank's stock after selling 222,645 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.95% of First Foundation worth $4,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of First Foundation by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank's stock valued at $136,000 after purchasing an additional 1,632 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of First Foundation by 12.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,338 shares of the bank's stock worth $146,000 after purchasing an additional 2,579 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of First Foundation by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 52,660 shares of the bank's stock valued at $329,000 after acquiring an additional 2,680 shares during the last quarter. Creative Planning raised its holdings in First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank's stock worth $103,000 after purchasing an additional 4,336 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in First Foundation by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 132,807 shares of the bank's stock valued at $829,000 after acquiring an additional 4,820 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company's stock.

First Foundation Stock Performance

FFWM traded up $0.02 on Friday, hitting $7.78. The company had a trading volume of 239,743 shares, compared to its average volume of 433,820. The stock has a market cap of $640.68 million, a price-to-earnings ratio of -6.95 and a beta of 1.34. The company's fifty day moving average price is $7.39 and its 200 day moving average price is $6.62. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FFWM shares. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Stephens lowered First Foundation from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $7.80.

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.