Nationwide Fund Advisors Has $319,000 Holdings in First Foundation Inc. (FFWM)
Nationwide Fund Advisors raised its holdings in First Foundation Inc. (NASDAQ:FFWM) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,441 shares of the bank’s stock after acquiring an additional 1,498 shares during the quarter. Nationwide Fund Advisors owned about 0.06% of First Foundation worth $319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Teachers Advisors LLC lifted its stake in First Foundation by 11.0% in the second quarter. Teachers Advisors LLC now owns 50,495 shares of the bank’s stock valued at $830,000 after acquiring an additional 4,993 shares during the last quarter. Alliancebernstein L.P. lifted its stake in First Foundation by 54.0% in the second quarter. Alliancebernstein L.P. now owns 19,100 shares of the bank’s stock valued at $314,000 after acquiring an additional 6,700 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in First Foundation in the second quarter valued at approximately $4,926,000. JPMorgan Chase & Co. lifted its stake in First Foundation by 531.7% in the second quarter. JPMorgan Chase & Co. now owns 112,998 shares of the bank’s stock valued at $1,857,000 after acquiring an additional 95,110 shares during the last quarter. Finally, Swiss National Bank acquired a new stake in First Foundation in the second quarter valued at approximately $764,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.
A number of analysts have issued reports on the stock. BidaskClub cut shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. FBR & Co set a $21.00 target price on shares of First Foundation and gave the company a “buy” rating in a research note on Monday, July 17th. TheStreet upgraded shares of First Foundation from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Zacks Investment Research cut shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, ValuEngine cut shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.88.
Shares of First Foundation Inc. (NASDAQ:FFWM) opened at $17.50 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.07 and a quick ratio of 1.02. First Foundation Inc. has a one year low of $11.64 and a one year high of $19.84. The firm has a market cap of $613.02, a price-to-earnings ratio of 18.91, a PEG ratio of 2.60 and a beta of 0.67.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. First Foundation had a net margin of 19.62% and a return on equity of 10.69%. The business had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.83 million. research analysts anticipate that First Foundation Inc. will post 0.96 EPS for the current fiscal year.
In related news, Chairman Ulrich E. Keller, Jr. sold 6,800 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $17.30, for a total transaction of $117,640.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $346,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Michel sold 30,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,546,764.78. The disclosure for this sale can be found here. Insiders sold 163,600 shares of company stock valued at $2,755,022 over the last 90 days. 18.50% of the stock is owned by corporate insiders.
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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