Boston Partners boosted its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 942,860 shares of the bank’s stock after purchasing an additional 52,830 shares during the period. Boston Partners owned about 2.74% of First Foundation worth $16,867,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in FFWM. Legal & General Group Plc lifted its holdings in First Foundation by 101.4% during the 1st quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after purchasing an additional 4,112 shares during the last quarter. Teton Advisors Inc. bought a new position in First Foundation during the 3rd quarter valued at about $182,000. Alliancebernstein L.P. bought a new position in First Foundation during the 1st quarter valued at about $192,000. Marshall Wace North America L.P. bought a new position in First Foundation during the 2nd quarter valued at about $230,000. Finally, American International Group Inc. lifted its holdings in First Foundation by 114.2% during the 1st quarter. American International Group Inc. now owns 16,256 shares of the bank’s stock valued at $252,000 after purchasing an additional 8,668 shares during the last quarter. 52.07% of the stock is owned by hedge funds and other institutional investors.
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 completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $329,400. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Michel sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $16.58, for a total transaction of $497,400.00. Following the completion of the transaction, the chief financial officer now directly owns 93,291 shares of the company’s stock, valued at $1,546,764.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,200 shares of company stock valued at $2,404,550. Insiders own 18.50% of the company’s stock.
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First Foundation Inc. (FFWM) opened at $17.65 on Tuesday. First Foundation Inc. has a 1-year low of $12.59 and a 1-year high of $19.84. The stock has a market cap of $618.31, a PE ratio of 19.08, a P/E/G ratio of 2.63 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24.
First Foundation (NASDAQ:FFWM) last announced its earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. First Foundation had a net margin of 19.62% and a return on equity of 10.32%. The company had revenue of $38.30 million during the quarter, compared to the consensus estimate of $38.83 million. equities analysts predict that First Foundation Inc. will post 0.96 earnings per share for the current fiscal year.
Several brokerages recently issued reports on FFWM. TheStreet raised shares of First Foundation from a “c-” rating to a “b-” rating in a report on Tuesday, October 31st. Zacks Investment Research raised shares of First Foundation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, October 27th. ValuEngine downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, FBR & Co set a $21.00 price target on shares of First Foundation and gave the company a “buy” rating in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.88.
First Foundation Company 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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