First Foundation Inc. (FFWM) Holdings Decreased by Prudential Financial Inc.
Prudential Financial Inc. lowered its holdings in First Foundation Inc. (NASDAQ:FFWM) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,510 shares of the bank’s stock after selling 4,790 shares during the period. Prudential Financial Inc. owned approximately 0.10% of First Foundation worth $599,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in FFWM. Legal & General Group Plc raised its holdings in shares of First Foundation by 101.4% in the 1st quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after acquiring an additional 4,112 shares in the last quarter. Teton Advisors Inc. purchased a new stake in shares of First Foundation in the 3rd quarter valued at about $182,000. Alliancebernstein L.P. purchased a new stake in shares of First Foundation in the 1st quarter valued at about $192,000. Marshall Wace North America L.P. purchased a new stake in shares of First Foundation in the 2nd quarter valued at about $230,000. Finally, OxFORD Asset Management LLP raised its holdings in shares of First Foundation by 5.0% in the 2nd quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock valued at $265,000 after acquiring an additional 772 shares in the last quarter. 50.95% of the stock is currently owned by hedge funds and other institutional investors.
First Foundation Inc. (NASDAQ:FFWM) opened at $18.81 on Monday. The firm has a market capitalization of $709.13, a PE ratio of 20.45, a P/E/G ratio of 2.81 and a beta of 0.66. 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 Inc. has a 1-year low of $13.64 and a 1-year high of $19.84.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $38.83 million. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. research analysts anticipate that First Foundation Inc. will post 0.96 earnings per share for the current year.
Several research firms have weighed in on FFWM. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Monday, December 4th. TheStreet raised First Foundation from a “c-” rating to a “b-” rating in a report on Tuesday, October 31st. Finally, ValuEngine cut First Foundation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. First Foundation currently has an average rating of “Hold” and an average price target of $19.88.
In related news, CFO John Michel sold 30,000 shares of the firm’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 transaction, the chief financial officer now directly owns 93,291 shares of the company’s stock, valued at approximately $1,546,764.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ulrich E. Keller, Jr. sold 16,245 shares of First Foundation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $16.60, for a total value of $269,667.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares in the company, valued at $332,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,245 shares of company stock worth $959,367. 18.50% of the stock is currently owned by insiders.
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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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