First Trust Advisors LP lifted its holdings in shares of First Foundation Inc (NASDAQ:FFWM) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,230 shares of the bank’s stock after buying an additional 5,700 shares during the period. First Trust Advisors LP owned about 0.19% of First Foundation worth $1,339,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of FFWM. Dimensional Fund Advisors LP raised its holdings in shares of First Foundation by 21.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 442,734 shares of the bank’s stock worth $7,921,000 after buying an additional 78,969 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of First Foundation by 120.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 112,765 shares of the bank’s stock worth $2,018,000 after buying an additional 61,565 shares in the last quarter. State Street Corp raised its holdings in shares of First Foundation by 13.8% during the 2nd quarter. State Street Corp now owns 457,699 shares of the bank’s stock worth $7,520,000 after buying an additional 55,468 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of First Foundation by 76.3% during the 3rd quarter. Wells Fargo & Company MN now owns 126,142 shares of the bank’s stock worth $2,257,000 after buying an additional 54,588 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of First Foundation by 12.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 410,054 shares of the bank’s stock worth $7,335,000 after buying an additional 46,927 shares in the last quarter. 54.15% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on FFWM shares. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Monday, December 4th. B. Riley reissued a “buy” rating and set a $22.00 price target (down previously from $23.00) on shares of First Foundation in a report on Thursday, February 1st. BidaskClub raised First Foundation from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Jaffray Companies reissued a “hold” rating and set a $20.00 price target on shares of First Foundation in a report on Tuesday, January 9th. Finally, TheStreet cut First Foundation from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. First Foundation presently has an average rating of “Buy” and a consensus target price of $20.70.
Shares of First Foundation stock opened at $18.13 on Friday. The firm has a market capitalization of $706.91, a price-to-earnings ratio of 18.50, a P/E/G ratio of 2.01 and a beta of 0.73. First Foundation Inc has a 52-week low of $14.90 and a 52-week high of $19.84. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.72.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $42.60 million for the quarter, compared to analyst estimates of $40.94 million. First Foundation had a return on equity of 10.28% and a net margin of 15.71%. analysts forecast that First Foundation Inc will post 1.27 earnings per share for the current fiscal year.
About First Foundation
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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