LSV Asset Management reduced its holdings in shares of First Foundation Inc. (NASDAQ:FFWM – Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,968 shares of the bank’s stock after selling 19,869 shares during the quarter. LSV Asset Management owned approximately 0.35% of First Foundation worth $1,490,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in shares of First Foundation by 8.2% in the 1st quarter. ProShare Advisors LLC now owns 9,388 shares of the bank’s stock valued at $229,000 after purchasing an additional 711 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Foundation by 87.9% in the 1st quarter. JPMorgan Chase & Co. now owns 138,554 shares of the bank’s stock valued at $3,366,000 after purchasing an additional 64,820 shares during the period. Raymond James & Associates boosted its position in shares of First Foundation by 6.7% in the 1st quarter. Raymond James & Associates now owns 58,474 shares of the bank’s stock valued at $1,420,000 after purchasing an additional 3,671 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Foundation by 14.8% in the 1st quarter. Bank of New York Mellon Corp now owns 261,504 shares of the bank’s stock valued at $6,352,000 after purchasing an additional 33,771 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of First Foundation by 161.8% in the 1st quarter. Acadian Asset Management LLC now owns 17,382 shares of the bank’s stock valued at $422,000 after purchasing an additional 10,743 shares during the period. 69.74% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other First Foundation news, Director Max Briggs purchased 10,000 shares of First Foundation stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $4.69 per share, with a total value of $46,900.00. Following the acquisition, the director now directly owns 46,072 shares of the company’s stock, valued at $216,077.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 17,610 shares of company stock valued at $80,604 in the last three months. 10.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
First Foundation Stock Down 0.3 %
First Foundation stock opened at $6.92 on Friday. First Foundation Inc. has a twelve month low of $3.69 and a twelve month high of $22.01. The stock has a 50 day moving average of $4.66 and a two-hundred day moving average of $8.40. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $390.43 million, a price-to-earnings ratio of -2.48 and a beta of 0.88.
First Foundation (NASDAQ:FFWM – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $70.45 million during the quarter, compared to analyst estimates of $77.17 million. First Foundation had a negative net margin of 28.10% and a positive return on equity of 5.40%. As a group, research analysts expect that First Foundation Inc. will post 0.35 earnings per share for the current year.
First Foundation Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.08 annualized dividend and a dividend yield of 1.16%. First Foundation’s dividend payout ratio is currently -2.87%.
First Foundation Company 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 bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal 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, and 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.
Featured Articles
- Five stocks we like better than First Foundation
- How to Invest in Pharmaceutical Companies
- MarketBeat Week in Review – 7/24 – 7/28
- Profitably Trade Stocks at 52-Week Highs
- Can SAIA Continue its Stratospheric Rally?
- How to Invest in the Entertainment Industry
- Why Markets Are Loving Exxon Mobil, Despite The Earnings Dip
Want to see what other hedge funds are holding FFWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Foundation Inc. (NASDAQ:FFWM – Free Report).
Receive News & Ratings for First Foundation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Foundation and related companies with MarketBeat.com's FREE daily email newsletter.
