Assenagon Asset Management S.A. Acquires 110,401 Shares of First Foundation Inc. $FFWM

Assenagon Asset Management S.A. increased its stake in shares of First Foundation Inc. (NYSE:FFWM) by 458.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 134,496 shares of the company’s stock after buying an additional 110,401 shares during the period. Assenagon Asset Management S.A. owned 0.16% of First Foundation worth $828,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Cloud Capital Management LLC acquired a new position in shares of First Foundation in the third quarter valued at about $27,000. Mercer Global Advisors Inc. ADV acquired a new stake in First Foundation in the 3rd quarter worth about $68,000. Arcus Capital Partners LLC bought a new stake in First Foundation in the 3rd quarter valued at about $97,000. Vanguard Personalized Indexing Management LLC grew its position in shares of First Foundation by 12.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 18,755 shares of the company’s stock worth $104,000 after purchasing an additional 2,060 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of First Foundation by 66.8% in the third quarter. ProShare Advisors LLC now owns 21,716 shares of the company’s stock valued at $121,000 after buying an additional 8,693 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Performance

First Foundation stock opened at $5.87 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.73. The stock has a market cap of $486.53 million, a PE ratio of -3.10 and a beta of 0.92. First Foundation Inc. has a 12-month low of $4.41 and a 12-month high of $6.72. The business’s 50-day moving average price is $6.04 and its two-hundred day moving average price is $5.83.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of First Foundation in a research note on Friday. DA Davidson downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.58.

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.