JPMorgan Chase & Co. Acquires 368,527 Shares of First Foundation Inc. $FFWM

JPMorgan Chase & Co. raised its holdings in First Foundation Inc. (NYSE:FFWM) by 633.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,714 shares of the company’s stock after buying an additional 368,527 shares during the period. JPMorgan Chase & Co.’s holdings in First Foundation were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of First Foundation by 12.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,755 shares of the company’s stock valued at $104,000 after purchasing an additional 2,060 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of First Foundation by 4.9% during the second quarter. Quantbot Technologies LP now owns 58,055 shares of the company’s stock valued at $296,000 after purchasing an additional 2,692 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of First Foundation during the third quarter valued at about $27,000. Sei Investments Co. lifted its position in shares of First Foundation by 11.6% during the third quarter. Sei Investments Co. now owns 63,625 shares of the company’s stock valued at $354,000 after purchasing an additional 6,600 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of First Foundation by 66.8% during the third quarter. ProShare Advisors LLC now owns 21,716 shares of the company’s stock valued at $121,000 after purchasing an additional 8,693 shares in the last quarter. 73.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FFWM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of First Foundation in a research report on Friday, March 27th. DA Davidson lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, First Foundation has a consensus rating of “Moderate Buy” and an average target price of $6.58.

First Foundation Stock Performance

Shares of FFWM stock opened at $5.90 on Tuesday. The firm has a market cap of $489.29 million, a price-to-earnings ratio of -3.12 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.87 and a current ratio of 0.90. First Foundation Inc. has a 52 week low of $4.41 and a 52 week high of $6.72. The firm’s 50-day simple moving average is $6.02 and its two-hundred day simple moving average is $5.83.

First Foundation (NYSE:FFWM) last announced its quarterly earnings data on Thursday, January 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $48.36 million during the quarter. First Foundation had a positive return on equity of 1.09% and a negative net margin of 26.37%.

First Foundation Company Profile

First Foundation Inc (NYSE: FFWM) is a financial services company headquartered in Irvine, California. Through its banking and advisory subsidiaries, the company delivers a range of wealth management, strategic consulting and lending solutions to high-net-worth individuals, families, entrepreneurs and closely held businesses. First Foundation’s integrated business model combines personalized advisory services with commercial and consumer banking capabilities under one corporate umbrella.

The company’s wealth management arm offers financial planning, investment management, trust and estate planning, tax planning and family office services.