Cubist Systematic Strategies LLC Acquires Shares of 86,021 First Foundation Inc. (NASDAQ:FFWM)

Cubist Systematic Strategies LLC bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 86,021 shares of the bank's stock, valued at approximately $563,000. Cubist Systematic Strategies LLC owned about 0.15% of First Foundation at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of First Foundation in the first quarter worth $25,000. Caxton Associates LP acquired a new stake in First Foundation in the 1st quarter worth $123,000. Quadrature Capital Ltd bought a new position in shares of First Foundation during the 4th quarter worth about $126,000. Boston Partners acquired a new position in shares of First Foundation during the first quarter valued at about $128,000. Finally, SG Americas Securities LLC bought a new stake in shares of First Foundation in the second quarter valued at about $162,000. 73.10% of the stock is currently owned by institutional investors.

First Foundation Price Performance

Shares of NASDAQ FFWM traded up $0.13 during midday trading on Friday, reaching $6.70. 589,003 shares of the company traded hands, compared to its average volume of 616,008. First Foundation Inc. has a 12 month low of $4.41 and a 12 month high of $11.47. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.04 and a current ratio of 1.04. The stock's 50-day simple moving average is $6.51 and its 200-day simple moving average is $6.32. The firm has a market cap of $378.63 million, a PE ratio of -1.83 and a beta of 1.32.

First Foundation (NASDAQ:FFWM - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $164.57 million during the quarter, compared to the consensus estimate of $54.23 million. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. During the same period last year, the firm posted $0.07 EPS. As a group, equities analysts anticipate that First Foundation Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FFWM shares. DA Davidson upgraded First Foundation from a "neutral" rating to a "buy" rating and boosted their price target for the company from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Piper Sandler restated a "neutral" rating and issued a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. Stephens downgraded shares of First Foundation from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Raymond James lowered shares of First Foundation from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of First Foundation from a "hold" rating to a "sell" rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, First Foundation presently has a consensus rating of "Hold" and an average price target of $7.80.

First Foundation Company Profile

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.