GSA Capital Partners LLP Increases Holdings in First Foundation Inc. (NASDAQ:FFWM)

GSA Capital Partners LLP grew its holdings in First Foundation Inc. (NASDAQ:FFWM) by 93.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 127,966 shares of the bank’s stock after acquiring an additional 61,946 shares during the quarter. GSA Capital Partners LLP’s holdings in First Foundation were worth $799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kennedy Capital Management LLC purchased a new position in First Foundation in the first quarter valued at approximately $1,731,000. Cubist Systematic Strategies LLC purchased a new stake in shares of First Foundation in the 2nd quarter valued at about $563,000. Elizabeth Park Capital Advisors Ltd. boosted its position in shares of First Foundation by 26.7% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 463,953 shares of the bank’s stock valued at $3,039,000 after purchasing an additional 97,732 shares during the period. Thrivent Financial for Lutherans purchased a new position in First Foundation during the 2nd quarter worth approximately $838,000. Finally, Mendon Capital Advisors Corp increased its position in First Foundation by 144.3% during the second quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after buying an additional 381,946 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Price Performance

Shares of NASDAQ FFWM opened at $7.71 on Friday. The stock has a fifty day moving average price of $6.97 and a 200 day moving average price of $6.39. First Foundation Inc. has a 1-year low of $4.84 and a 1-year high of $11.47. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $634.92 million, a PE ratio of -6.86 and a beta of 1.30.

Analyst Upgrades and Downgrades

FFWM has been the subject of several research analyst reports. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.80.

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.