Bleakley Financial Group LLC Reduces Stock Position in First Foundation Inc. (NASDAQ:FFWM)

Bleakley Financial Group LLC lessened its stake in First Foundation Inc. (NASDAQ:FFWM) by 38.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,562 shares of the bank’s stock after selling 11,372 shares during the period. Bleakley Financial Group LLC’s holdings in First Foundation were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FFWM. The Manufacturers Life Insurance Company boosted its holdings in First Foundation by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,632 shares in the last quarter. Riverview Trust Co purchased a new stake in First Foundation in the 1st quarter worth approximately $25,000. Empowered Funds LLC grew its stake in First Foundation by 8.2% in the 1st quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after acquiring an additional 3,500 shares during the period. Creative Planning grew its stake in First Foundation by 35.8% in the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after acquiring an additional 4,336 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in First Foundation by 28.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,425 shares of the bank’s stock worth $173,000 after acquiring an additional 5,790 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FFWM shares. StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. DA Davidson raised shares of First Foundation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $6.00 price target on shares of First Foundation in a research report on Wednesday, July 3rd. Stephens cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Raymond James cut shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.80.

First Foundation Stock Up 2.4 %

FFWM stock opened at $7.63 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $431.19 million, a PE ratio of -2.08 and a beta of 1.32. First Foundation Inc. has a 12 month low of $4.41 and a 12 month high of $11.47. The firm has a 50 day simple moving average of $6.76 and a 200 day simple moving average of $6.32.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. The company had revenue of $164.57 million for the quarter, compared to analyst estimates of $54.23 million. During the same quarter in the prior year, the business posted $0.07 EPS. Equities research analysts forecast that First Foundation Inc. will post -0.07 earnings per share for the current fiscal year.

First Foundation Company Profile

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 deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit 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, 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.