First Foundation Inc. (NASDAQ:FFWM) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in First Foundation Inc. (NASDAQ:FFWM – Get Rating) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 10,934 shares of the bank’s stock after selling 1,238 shares during the quarter. Hsbc Holdings PLC’s holdings in First Foundation were worth $202,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in shares of First Foundation by 36.2% in the third quarter. Envestnet Asset Management Inc. now owns 138,180 shares of the bank’s stock valued at $2,507,000 after acquiring an additional 36,743 shares in the last quarter. Credit Suisse AG lifted its position in shares of First Foundation by 18.0% in the third quarter. Credit Suisse AG now owns 64,860 shares of the bank’s stock valued at $1,176,000 after acquiring an additional 9,894 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of First Foundation by 674.3% in the third quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,888 shares in the last quarter. Connectus Wealth LLC lifted its position 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. Finally, Dimensional Fund Advisors LP lifted its position 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. Institutional investors and hedge funds own 69.33% of the company’s stock.

Insider Activity

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

First Foundation Stock Performance

First Foundation stock opened at $11.58 on Friday. The stock’s 50-day moving average is $15.11 and its 200-day moving average is $16.07. The company has a market cap of $652.53 million, a price-to-earnings ratio of 5.91 and a beta of 0.95. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 1.08. First Foundation Inc. has a 12 month low of $11.43 and a 12 month high of $26.44.

First Foundation (NASDAQ:FFWM – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $81.94 million for the quarter, compared to the consensus estimate of $94.93 million. First Foundation had a return on equity of 10.18% and a net margin of 24.44%. Equities analysts anticipate that First Foundation Inc. will post 0.86 earnings per share for the current year.

First Foundation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 6th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.80%. First Foundation’s dividend payout ratio (DPR) is currently 22.45%.

Analysts Set New Price Targets

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

First Foundation 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.