Parametric Portfolio Associates LLC decreased its position in First Foundation Inc. (NASDAQ:FFWM) by 50.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,651 shares of the bank’s stock after selling 92,833 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.26% of First Foundation worth $1,473,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors lifted its holdings in First Foundation by 8.3% in the second quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock valued at $319,000 after buying an additional 1,498 shares during the period. Rhumbline Advisers lifted its holdings in First Foundation by 7.2% in the second quarter. Rhumbline Advisers now owns 30,655 shares of the bank’s stock valued at $504,000 after buying an additional 2,062 shares during the period. Victory Capital Management Inc. lifted its holdings in First Foundation by 4.8% in the second quarter. Victory Capital Management Inc. now owns 66,900 shares of the bank’s stock valued at $1,099,000 after buying an additional 3,050 shares during the period. Legal & General Group Plc lifted its holdings in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after buying an additional 4,112 shares during the period. Finally, Cadence Capital Management LLC lifted its holdings in First Foundation by 5.7% in the second quarter. Cadence Capital Management LLC now owns 92,264 shares of the bank’s stock valued at $1,516,000 after buying an additional 4,966 shares during the period. Institutional investors and hedge funds own 52.07% of the company’s stock.
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In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 8,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $16.47, for a total value of $131,760.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $329,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.28, for a total transaction of $235,008.00. Following the completion of the transaction, the chairman now owns 20,000 shares in the company, valued at $345,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,200 shares of company stock valued at $2,404,550. 18.50% of the stock is currently owned by insiders.
Shares of First Foundation Inc. (NASDAQ:FFWM) opened at $17.65 on Tuesday. First Foundation Inc. has a 52 week low of $12.59 and a 52 week high of $19.84. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24. The firm has a market cap of $618.31, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.67.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $38.30 million during the quarter, compared to the consensus estimate of $38.83 million. First Foundation had a net margin of 19.62% and a return on equity of 10.32%. equities research analysts predict that First Foundation Inc. will post 0.96 EPS for the current year.
Several equities analysts recently issued reports on FFWM shares. TheStreet upgraded shares of First Foundation from a “c-” rating to a “b-” rating in a report on Tuesday, October 31st. FBR & Co set a $21.00 target price on shares of First Foundation and gave the company a “buy” rating in a report on Monday, July 17th. BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of First Foundation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, October 27th. Finally, ValuEngine lowered shares of First Foundation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.88.
First Foundation Profile
First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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