Victory Capital Management Inc. raised its stake in First Foundation Inc. (NASDAQ:FFWM) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,215 shares of the company’s stock after buying an additional 130 shares during the period. Victory Capital Management Inc. owned 0.19% of First Foundation worth $650,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of First Foundation by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,526,613 shares of the company’s stock valued at $34,242,000 after buying an additional 38,855 shares during the period. Mendon Capital Advisors Corp increased its stake in shares of First Foundation by 4.6% in the second quarter. Mendon Capital Advisors Corp now owns 528,144 shares of the company’s stock valued at $11,356,000 after buying an additional 23,465 shares during the period. Boston Partners increased its stake in shares of First Foundation by 20.1% in the second quarter. Boston Partners now owns 326,980 shares of the company’s stock valued at $7,030,000 after buying an additional 54,756 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of First Foundation during the second quarter valued at approximately $4,708,000. Finally, Eagle Boston Investment Management Inc. increased its stake in shares of First Foundation by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 173,257 shares of the company’s stock valued at $3,725,000 after buying an additional 4,890 shares during the period. Institutional investors own 56.09% of the company’s stock.
First Foundation Inc. (NASDAQ:FFWM) traded up 0.20% during trading on Wednesday, hitting $24.75. 5,812 shares of the company were exchanged. The firm’s 50 day moving average price is $24.66 and its 200-day moving average price is $22.88. First Foundation Inc. has a 1-year low of $20.00 and a 1-year high of $25.25. The stock has a market capitalization of $401.45 million, a PE ratio of 25.94 and a beta of 0.41.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.10. First Foundation had a net margin of 12.68% and a return on equity of 4.84%. Equities analysts predict that First Foundation Inc. will post $1.38 EPS for the current year.
A number of analysts have recently issued reports on the stock. FBR & Co raised their price target on shares of First Foundation from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of First Foundation from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, DA Davidson reaffirmed a “buy” rating and set a $25.00 price target on shares of First Foundation in a report on Wednesday, July 6th.
In related news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of First Foundation stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $23.43, for a total value of $117,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.00% of the stock is owned by corporate insiders.
About First Foundation
First Foundation Inc is a financial services holding company. The Company 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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