14,030 Shares in First Foundation Inc (FFWM) Acquired by GSA Capital Partners LLP
GSA Capital Partners LLP bought a new stake in First Foundation Inc (NASDAQ:FFWM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,030 shares of the bank’s stock, valued at approximately $260,000.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in First Foundation by 0.6% during the first quarter. BlackRock Inc. now owns 1,621,607 shares of the bank’s stock worth $30,063,000 after purchasing an additional 9,902 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in First Foundation by 23.6% during the first quarter. Russell Investments Group Ltd. now owns 1,213,488 shares of the bank’s stock worth $22,499,000 after purchasing an additional 231,698 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in First Foundation by 6.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 939,059 shares of the bank’s stock worth $17,410,000 after purchasing an additional 55,610 shares in the last quarter. RMB Capital Management LLC raised its holdings in First Foundation by 8.8% during the first quarter. RMB Capital Management LLC now owns 752,279 shares of the bank’s stock worth $13,947,000 after purchasing an additional 60,778 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in First Foundation by 33.4% during the first quarter. Dimensional Fund Advisors LP now owns 718,910 shares of the bank’s stock worth $13,329,000 after purchasing an additional 179,835 shares in the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
FFWM has been the topic of a number of research analyst reports. ValuEngine cut shares of First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Zacks Investment Research cut shares of First Foundation from a “hold” rating to a “strong sell” rating in a report on Friday, August 3rd. DA Davidson raised their price objective on shares of First Foundation from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 11th. TheStreet cut shares of First Foundation from a “b” rating to a “c+” rating in a report on Friday, August 10th. Finally, BidaskClub cut shares of First Foundation from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $20.58.
Shares of First Foundation stock opened at $16.71 on Monday. The firm has a market capitalization of $741.87 million, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.59. First Foundation Inc has a 12 month low of $14.95 and a 12 month high of $20.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.00 and a current ratio of 1.13.
First Foundation (NASDAQ:FFWM) last announced its earnings results on Monday, July 30th. The bank reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). The business had revenue of $43.24 million during the quarter, compared to analyst estimates of $45.38 million. First Foundation had a net margin of 12.87% and a return on equity of 9.51%. equities research analysts expect that First Foundation Inc will post 1 EPS for the current fiscal year.
About First Foundation
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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