Meeder Asset Management Inc. Makes New Investment in First Foundation Inc. (NASDAQ:FFWM)

Meeder Asset Management Inc. bought a new stake in First Foundation Inc. (NASDAQ:FFWM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,224 shares of the bank’s stock, valued at approximately $76,000.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new position in shares of First Foundation in the fourth quarter valued at approximately $1,221,000. Hollencrest Capital Management lifted its stake in First Foundation by 676.0% in the fourth quarter. Hollencrest Capital Management now owns 160,710 shares of the bank’s stock valued at $3,214,000 after purchasing an additional 140,000 shares during the last quarter. Jennison Associates LLC lifted its stake in First Foundation by 16.2% in the fourth quarter. Jennison Associates LLC now owns 1,706,221 shares of the bank’s stock valued at $34,124,000 after purchasing an additional 238,315 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in First Foundation by 1.8% in the fourth quarter. Virginia Retirement Systems ET AL now owns 33,300 shares of the bank’s stock valued at $666,000 after purchasing an additional 600 shares during the last quarter. Finally, Whittier Trust Co. purchased a new position in First Foundation in the first quarter valued at approximately $520,000. 61.20% of the stock is owned by institutional investors.

First Foundation stock opened at $25.69 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of 14.94 and a beta of 1.54. First Foundation Inc. has a fifty-two week low of $12.12 and a fifty-two week high of $25.81. The firm’s fifty day moving average price is $23.68 and its 200-day moving average price is $21.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.97.

First Foundation (NASDAQ:FFWM) last released its earnings results on Tuesday, April 27th. The bank reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. First Foundation had a return on equity of 12.10% and a net margin of 25.59%. Sell-side analysts predict that First Foundation Inc. will post 1.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Friday, May 7th will be paid a $0.09 dividend. The ex-dividend date is Thursday, May 6th. This represents a $0.36 dividend on an annualized basis and a yield of 1.40%. First Foundation’s dividend payout ratio is presently 28.80%.

In other news, insider John Hakopian sold 10,000 shares of the stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $25.04, for a total transaction of $250,400.00. Following the completion of the sale, the insider now directly owns 43,686 shares in the company, valued at $1,093,897.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $23.23, for a total transaction of $580,750.00. Following the completion of the sale, the chairman now owns 20,687 shares of the company’s stock, valued at $480,559.01. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock worth $1,552,250 over the last ninety days. Insiders own 13.90% of the company’s stock.

Several equities research analysts have issued reports on FFWM shares. Raymond James increased their target price on First Foundation from $19.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. Zacks Investment Research cut shares of First Foundation from a “buy” rating to a “hold” rating in a report on Thursday, April 29th. Finally, B. Riley upped their price target on shares of First Foundation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 18th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.75.

About First Foundation

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates through two segments, Banking, and Investment Management and Wealth Planning. 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.

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

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