First Foundation Inc. (FFWM) Shares Sold by Boston Partners
Boston Partners lowered its position in First Foundation Inc. (NASDAQ:FFWM) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 890,030 shares of the bank’s stock after selling 141,080 shares during the period. Boston Partners’ holdings in First Foundation were worth $14,623,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in FFWM. Legal & General Group Plc boosted its position in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after buying an additional 4,112 shares during the period. Bank of Montreal Can bought a new position in First Foundation during the first quarter worth about $138,000. Alliancebernstein L.P. bought a new position in First Foundation during the first quarter worth about $192,000. Hollencrest Securities LLC bought a new position in First Foundation during the second quarter worth about $207,000. Finally, Citadel Advisors LLC boosted its position in First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock worth $217,000 after buying an additional 496 shares during the period. 50.97% of the stock is currently owned by institutional investors.
First Foundation Inc. (NASDAQ FFWM) opened at 17.25 on Wednesday. The company has a 50-day moving average of $16.89 and a 200 day moving average of $16.11. The company has a market cap of $594.49 million, a PE ratio of 18.59 and a beta of 0.65. First Foundation Inc. has a 12 month low of $11.64 and a 12 month high of $18.16.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.07. The business had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. On average, equities analysts forecast that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
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FFWM has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and set a $19.50 price objective on shares of First Foundation in a research report on Monday, June 19th. ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, April 25th. FBR & Co set a $21.00 price target on shares of First Foundation and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, TheStreet raised shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Foundation has a consensus rating of “Buy” and a consensus target price of $19.13.
In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $17.12, for a total value of $232,832.00. Following the sale, the chairman now owns 20,000 shares in the company, valued at $342,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $16.38, for a total transaction of $163,800.00. Following the completion of the sale, the chairman now owns 20,000 shares in the company, valued at approximately $327,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,600 shares of company stock worth $548,532. Corporate insiders own 18.50% of the company’s stock.
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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