MetLife Investment Management LLC Trims Stake in First Foundation Inc. (NASDAQ:FFWM)

MetLife Investment Management LLC reduced its stake in First Foundation Inc. (NASDAQ:FFWM) by 15.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,285 shares of the bank’s stock after selling 5,642 shares during the quarter. MetLife Investment Management LLC’s holdings in First Foundation were worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FFWM. Millstone Evans Group LLC purchased a new stake in First Foundation in the 4th quarter worth $30,000. Farther Finance Advisors LLC grew its position in shares of First Foundation by 665.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,089 shares of the bank’s stock worth $32,000 after purchasing an additional 4,424 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of First Foundation during the fourth quarter worth about $91,000. Virtu Financial LLC purchased a new position in First Foundation in the 4th quarter worth approximately $116,000. Finally, Proficio Capital Partners LLC purchased a new position in First Foundation in the 4th quarter worth approximately $123,000. Institutional investors own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

FFWM has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded shares of First Foundation from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.75.

First Foundation Stock Down 0.7 %

NASDAQ FFWM opened at $5.23 on Friday. The stock has a 50 day moving average price of $4.93 and a 200-day moving average price of $5.98. First Foundation Inc. has a one year low of $4.42 and a one year high of $8.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $430.47 million, a P/E ratio of -3.90 and a beta of 1.01.

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.