Mutual of America Capital Management LLC Cuts Holdings in First Foundation Inc. (NASDAQ:FFWM)

Mutual of America Capital Management LLC lessened its position in shares of First Foundation Inc. (NASDAQ:FFWMGet Rating) by 0.7% in the second quarter, Holdings Channel.com reports. The fund owned 169,021 shares of the bank’s stock after selling 1,264 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Foundation were worth $3,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GMT Capital Corp grew its holdings in shares of First Foundation by 39.7% during the 2nd quarter. GMT Capital Corp now owns 3,085,494 shares of the bank’s stock worth $63,191,000 after purchasing an additional 877,113 shares during the period. BlackRock Inc. lifted its position in First Foundation by 22.1% during the first quarter. BlackRock Inc. now owns 3,817,772 shares of the bank’s stock valued at $92,735,000 after buying an additional 691,494 shares in the last quarter. Vanguard Group Inc. grew its stake in First Foundation by 26.0% during the first quarter. Vanguard Group Inc. now owns 2,506,062 shares of the bank’s stock worth $60,872,000 after buying an additional 517,634 shares during the period. Principal Financial Group Inc. increased its position in shares of First Foundation by 32.7% in the second quarter. Principal Financial Group Inc. now owns 1,257,690 shares of the bank’s stock worth $25,758,000 after acquiring an additional 309,862 shares in the last quarter. Finally, State Street Corp increased its position in shares of First Foundation by 25.0% in the first quarter. State Street Corp now owns 1,341,747 shares of the bank’s stock worth $32,591,000 after acquiring an additional 267,995 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FFWM. B. Riley lifted their target price on shares of First Foundation from $21.00 to $23.00 in a report on Wednesday, July 27th. DA Davidson downgraded First Foundation from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Wednesday, October 26th. Raymond James lowered their target price on First Foundation from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. StockNews.com initiated coverage on First Foundation in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet cut First Foundation from a “b-” rating to a “c+” rating in a report on Monday, November 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, First Foundation presently has an average rating of “Hold” and an average target price of $22.10.

First Foundation Stock Up 1.2 %

Shares of NASDAQ FFWM opened at $14.44 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.09 and a current ratio of 1.09. First Foundation Inc. has a 1 year low of $13.96 and a 1 year high of $28.61. The stock’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $19.51. The firm has a market cap of $814.24 million, a price-to-earnings ratio of 6.69 and a beta of 1.03.

First Foundation (NASDAQ:FFWMGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $98.00 million. First Foundation had a return on equity of 10.71% and a net margin of 29.45%. As a group, equities analysts anticipate that First Foundation Inc. will post 2.04 earnings per share for the current fiscal year.

First Foundation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.44 dividend on an annualized basis and a yield of 3.05%. First Foundation’s dividend payout ratio (DPR) is 20.37%.

About First Foundation

(Get Rating)

First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. 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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.

See Also

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Institutional Ownership by Quarter for First Foundation (NASDAQ:FFWM)

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