First Foundation Inc. (NASDAQ:FFWM) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in First Foundation Inc. (NASDAQ:FFWM – Get Rating) by 36.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,180 shares of the bank’s stock after purchasing an additional 36,743 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.25% of First Foundation worth $2,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Credit Suisse AG grew its position in shares of First Foundation by 18.0% in the 3rd quarter. Credit Suisse AG now owns 64,860 shares of the bank’s stock valued at $1,176,000 after buying an additional 9,894 shares during the last quarter. Quadrant Capital Group LLC grew its position in First Foundation by 674.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $39,000 after purchasing an additional 1,888 shares during the last quarter. Connectus Wealth LLC boosted its holdings in shares of First Foundation by 6.0% in the third quarter. Connectus Wealth LLC now owns 56,408 shares of the bank’s stock valued at $1,024,000 after acquiring an additional 3,186 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Foundation by 9.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,168,030 shares of the bank’s stock valued at $39,330,000 after acquiring an additional 194,065 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of First Foundation by 855.9% in the third quarter. Tower Research Capital LLC TRC now owns 13,737 shares of the bank’s stock valued at $249,000 after acquiring an additional 12,300 shares in the last quarter. 69.33% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Up 0.1 %

First Foundation stock opened at $13.97 on Thursday. The company has a 50-day simple moving average of $15.20 and a 200-day simple moving average of $16.18. The firm has a market capitalization of $787.21 million, a P/E ratio of 7.13 and a beta of 0.95. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.08 and a current ratio of 1.08. First Foundation Inc. has a one year low of $13.17 and a one year high of $26.44.

First Foundation (NASDAQ:FFWM – Get Rating) last announced its earnings results on Thursday, January 26th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $81.94 million during the quarter, compared to analyst estimates of $94.93 million. First Foundation had a net margin of 24.44% and a return on equity of 10.18%. As a group, equities analysts expect that First Foundation Inc. will post 0.92 earnings per share for the current year.

First Foundation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 6th were given a dividend of $0.11 per share. The ex-dividend date was Friday, February 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.15%. First Foundation’s dividend payout ratio (DPR) is 22.45%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FFWM shares. Piper Sandler downgraded shares of First Foundation from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $17.50 to $16.00 in a report on Friday, February 3rd. TheStreet cut shares of First Foundation from a “b-” rating to a “c+” rating in a research report on Monday, November 14th. StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Finally, Raymond James lowered their price target on shares of First Foundation from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.75.

Insider Activity

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $16.36, for a total transaction of $409,000.00. Following the completion of the sale, the chairman now directly owns 1,263,014 shares of the company’s stock, valued at $20,662,909.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Amy Djou sold 3,172 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $15.15, for a total value of $48,055.80. Following the completion of the sale, the chief financial officer now directly owns 333 shares of the company’s stock, valued at $5,044.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $16.36, for a total transaction of $409,000.00. Following the completion of the sale, the chairman now directly owns 1,263,014 shares of the company’s stock, valued at $20,662,909.04. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.

First Foundation Company Profile

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First Foundation, Inc is a bank holding, which engages in the provision of a comprehensive platform of financial services to individuals, businesses, and organizations. It operates through the following segments: Banking, Wealth Management, and Other. The company was founded by John Avak Hakopian and Ulrich Emanuel Keller, Jr.