Virtu Financial LLC Invests $116,000 in First Foundation Inc. (NASDAQ:FFWM)

Virtu Financial LLC bought a new position in shares of First Foundation Inc. (NASDAQ:FFWM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,602 shares of the bank’s stock, valued at approximately $116,000.

Other institutional investors also recently bought and sold shares of the company. Strategic Value Bank Partners LLC grew its position in shares of First Foundation by 115.3% during the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock valued at $18,086,000 after purchasing an additional 1,551,861 shares in the last quarter. Invenomic Capital Management LP purchased a new position in First Foundation during the 3rd quarter valued at approximately $8,373,000. FMR LLC increased its stake in First Foundation by 20.1% in the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock worth $38,063,000 after acquiring an additional 1,019,484 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of First Foundation during the 3rd quarter worth approximately $4,428,000. Finally, Royce & Associates LP boosted its position in shares of First Foundation by 48.6% during the 4th quarter. Royce & Associates LP now owns 1,277,619 shares of the bank’s stock valued at $7,934,000 after acquiring an additional 417,849 shares during the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler reduced 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation Stock Up 0.1 %

Shares of NASDAQ:FFWM opened at $4.95 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 0.87. The business has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $6.34. First Foundation Inc. has a 1 year low of $4.52 and a 1 year high of $8.52. The firm has a market capitalization of $407.95 million, a PE ratio of -3.70 and a beta of 1.35.

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.