Invenomic Capital Management LP Sells 218,318 Shares of First Foundation Inc. (NASDAQ:FFWM)

Invenomic Capital Management LP decreased its holdings in First Foundation Inc. (NASDAQ:FFWM) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,123,530 shares of the bank’s stock after selling 218,318 shares during the period. Invenomic Capital Management LP’s holdings in First Foundation were worth $6,977,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have weighed in on FFWM. StockNews.com lowered First Foundation from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Piper Sandler reduced their price objective on shares of First Foundation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. 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’s stock. According to data from MarketBeat, First Foundation currently has a consensus rating of “Hold” and a consensus price target of $6.75.

First Foundation Price Performance

Shares of NASDAQ FFWM opened at $5.37 on Friday. The stock’s 50-day simple moving average is $4.94 and its two-hundred day simple moving average is $5.95. First Foundation Inc. has a twelve month low of $4.42 and a twelve month high of $8.52. The firm has a market capitalization of $442.41 million, a P/E ratio of -4.01 and a beta of 1.01. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

First Foundation 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.