State Street Corp Lowers Holdings in First Foundation Inc (NASDAQ:FFWM)

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State Street Corp decreased its stake in shares of First Foundation Inc (NASDAQ:FFWM) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 848,500 shares of the bank’s stock after selling 15,354 shares during the quarter. State Street Corp owned about 1.90% of First Foundation worth $8,672,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Martingale Asset Management L P purchased a new position in shares of First Foundation in the first quarter worth $106,000. Advisor Group Holdings Inc. purchased a new position in shares of First Foundation in the first quarter worth $110,000. Citigroup Inc. raised its stake in shares of First Foundation by 41.6% in the first quarter. Citigroup Inc. now owns 11,759 shares of the bank’s stock worth $120,000 after purchasing an additional 3,456 shares during the last quarter. Aperio Group LLC purchased a new position in shares of First Foundation in the first quarter worth $122,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of First Foundation by 166.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,154 shares of the bank’s stock worth $124,000 after purchasing an additional 7,596 shares during the last quarter. Institutional investors and hedge funds own 57.06% of the company’s stock.

Shares of FFWM opened at $15.37 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.05 and a quick ratio of 0.95. First Foundation Inc has a one year low of $8.01 and a one year high of $17.64. The firm has a market capitalization of $685.96 million, a P/E ratio of 10.98 and a beta of 1.50. The business has a fifty day moving average of $15.64 and a 200 day moving average of $14.24.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. First Foundation had a return on equity of 10.37% and a net margin of 21.72%. The company had revenue of $57.42 million during the quarter, compared to analyst estimates of $56.73 million. Analysts expect that First Foundation Inc will post 1.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, July 23rd. First Foundation’s dividend payout ratio is presently 22.40%.

Several research analysts have recently weighed in on FFWM shares. Zacks Investment Research upgraded First Foundation from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, June 29th. BidaskClub cut First Foundation from a “buy” rating to a “hold” rating in a research note on Friday, July 10th. B. Riley lifted their price objective on First Foundation from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Raymond James lifted their price objective on First Foundation from $13.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, TheStreet raised First Foundation from a “c” rating to a “b-” rating in a report on Monday, June 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.

First Foundation Profile

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

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Institutional Ownership by Quarter for First Foundation (NASDAQ:FFWM)

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