ExodusPoint Capital Management LP Sells 33,162 Shares of First Foundation Inc. (NASDAQ:FFWM)

ExodusPoint Capital Management LP lowered its position in First Foundation Inc. (NASDAQ:FFWM) by 33.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,400 shares of the bank’s stock after selling 33,162 shares during the quarter. ExodusPoint Capital Management LP’s holdings in First Foundation were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in First Foundation by 25.4% in the 4th quarter. Vanguard Group Inc. now owns 3,824,803 shares of the bank’s stock valued at $23,752,000 after acquiring an additional 774,844 shares during the period. Royce & Associates LP increased its holdings in First Foundation by 48.6% in the fourth quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock valued at $7,934,000 after purchasing an additional 417,849 shares during the period. Geode Capital Management LLC raised its position in First Foundation by 21.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock worth $8,844,000 after purchasing an additional 249,237 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in First Foundation during the 4th quarter worth about $775,000. Finally, JPMorgan Chase & Co. grew its position in shares of First Foundation by 234.5% in the 4th quarter. JPMorgan Chase & Co. now owns 167,940 shares of the bank’s stock valued at $1,043,000 after buying an additional 117,730 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

First Foundation Trading Up 0.5 %

Shares of FFWM stock opened at $4.63 on Friday. The company has a market cap of $381.43 million, a P/E ratio of -3.46 and a beta of 1.19. First Foundation Inc. has a fifty-two week low of $4.42 and a fifty-two week high of $8.52. The stock has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $6.21. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler cut their price objective on First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, First Foundation has an average rating of “Hold” and a consensus price target of $6.75.

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.