Assenagon Asset Management S.A. purchased a new stake in First Foundation Inc. (NASDAQ:FFWM – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,055 shares of the bank’s stock, valued at approximately $377,000.
Other large investors also recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of First Foundation by 877.0% during the 1st quarter. First Trust Advisors LP now owns 1,591,983 shares of the bank’s stock worth $11,860,000 after buying an additional 1,429,037 shares during the period. Goldman Sachs Group Inc. raised its position in First Foundation by 270.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,090,497 shares of the bank’s stock worth $4,329,000 after acquiring an additional 796,270 shares during the period. BlackRock Inc. lifted its holdings 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 purchasing an additional 691,494 shares in the last quarter. rhino investment partners Inc acquired a new stake in shares of First Foundation in the fourth quarter valued at about $9,629,000. Finally, Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 517,634 shares in the last quarter. Institutional investors and hedge funds own 70.03% of the company’s stock.
First Foundation Stock Down 1.9 %
Shares of NASDAQ FFWM opened at $7.95 on Thursday. The business’s 50 day moving average is $9.03 and its two-hundred day moving average is $7.34. First Foundation Inc. has a 52-week low of $3.69 and a 52-week high of $16.20. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.07. The firm has a market cap of $448.70 million, a price-to-earnings ratio of -2.26 and a beta of 1.29.
First Foundation Dividend Announcement
Analyst Ratings Changes
A number of brokerages recently weighed in on FFWM. Raymond James raised shares of First Foundation from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $9.50 to $12.00 in a research note on Friday, January 5th. Wedbush lifted their price target on First Foundation from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th.
In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 30,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $8.90, for a total transaction of $267,000.00. Following the sale, the chairman now directly owns 215,000 shares in the company, valued at approximately $1,913,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 10.20% of the company’s stock.
About First Foundation
First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It 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.
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