Basswood Capital Management L.L.C. raised its position in First Foundation Inc (NASDAQ:FFWM) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,241,463 shares of the bank’s stock after acquiring an additional 73,357 shares during the period. Basswood Capital Management L.L.C. owned about 2.79% of First Foundation worth $15,965,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Panagora Asset Management Inc. acquired a new position in First Foundation in the 3rd quarter valued at approximately $431,000. Dimensional Fund Advisors LP raised its holdings in First Foundation by 27.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,280,744 shares of the bank’s stock valued at $20,005,000 after acquiring an additional 279,379 shares in the last quarter. Teachers Advisors LLC raised its holdings in First Foundation by 16.4% in the 3rd quarter. Teachers Advisors LLC now owns 67,944 shares of the bank’s stock valued at $1,061,000 after acquiring an additional 9,579 shares in the last quarter. Royce & Associates LP raised its holdings in First Foundation by 85.6% in the 3rd quarter. Royce & Associates LP now owns 438,548 shares of the bank’s stock valued at $6,850,000 after acquiring an additional 202,300 shares in the last quarter. Finally, EJF Capital LLC acquired a new position in First Foundation in the 3rd quarter valued at approximately $5,470,000. 61.00% of the stock is owned by hedge funds and other institutional investors.
FFWM has been the topic of several analyst reports. BidaskClub upgraded First Foundation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded First Foundation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, January 10th. Finally, ValuEngine lowered First Foundation from a “sell” rating to a “strong sell” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. First Foundation presently has an average rating of “Hold” and an average price target of $19.25.
FFWM stock opened at $14.29 on Friday. First Foundation Inc has a 1-year low of $11.79 and a 1-year high of $20.43. The company has a market capitalization of $640.82 million, a PE ratio of 12.21, a P/E/G ratio of 1.65 and a beta of 0.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.95 and a current ratio of 1.06.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Wednesday, January 30th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. First Foundation had a return on equity of 9.82% and a net margin of 17.67%. The company had revenue of $50.07 million for the quarter, compared to analyst estimates of $51.61 million. Analysts forecast that First Foundation Inc will post 1.25 earnings per share for the current year.
The business also recently disclosed a special dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.05 dividend. The ex-dividend date was Thursday, February 28th. First Foundation’s dividend payout ratio is currently 17.09%.
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First Foundation Profile
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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