Cubist Systematic Strategies LLC Makes New $563,000 Investment in First Foundation Inc. (NASDAQ:FFWM)

Cubist Systematic Strategies LLC bought a new position in First Foundation Inc. (NASDAQ:FFWM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,021 shares of the bank's stock, valued at approximately $563,000. Cubist Systematic Strategies LLC owned approximately 0.13% of First Foundation as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in First Foundation in the fourth quarter worth $126,000. Riverview Trust Co acquired a new stake in First Foundation during the 1st quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its stake in shares of First Foundation by 19.1% in the first quarter. BNP Paribas Financial Markets now owns 91,285 shares of the bank's stock worth $689,000 after buying an additional 14,633 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of First Foundation during the 1st quarter valued at about $478,000. Finally, Quantbot Technologies LP acquired a new position in First Foundation during the first quarter worth $199,000. Institutional investors own 73.10% of the company's stock.

Analyst Upgrades and Downgrades

FFWM has been the topic of several recent analyst reports. StockNews.com lowered shares of First Foundation from a "hold" rating to a "sell" rating in a report on Friday, July 26th. DA Davidson raised First Foundation from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $8.00 to $9.00 in a report on Wednesday, July 3rd. Raymond James cut shares of First Foundation from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, July 3rd. Piper Sandler restated a "neutral" rating and issued a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. Finally, Stephens cut shares of 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 assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $7.80.

First Foundation Trading Up 5.7 %

Shares of NASDAQ:FFWM traded up $0.39 during mid-day trading on Friday, hitting $7.20. The stock had a trading volume of 693,716 shares, compared to its average volume of 612,889. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.04 and a current ratio of 1.04. First Foundation Inc. has a 12-month low of $4.41 and a 12-month high of $11.47. The company's 50 day moving average is $6.51 and its 200-day moving average is $6.30. The company has a market cap of $406.89 million, a PE ratio of -1.97 and a beta of 1.32.

First Foundation (NASDAQ:FFWM - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. The company had revenue of $164.57 million during the quarter, compared to analyst estimates of $54.23 million. During the same period in the previous year, the company earned $0.07 earnings per share. On average, sell-side analysts predict that First Foundation Inc. will post -0.07 EPS for the current year.

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.