Advisory Services Network LLC Invests $43,000 in First Foundation Inc (NASDAQ:FFWM)

Advisory Services Network LLC acquired a new stake in First Foundation Inc (NASDAQ:FFWM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,150 shares of the bank’s stock, valued at approximately $43,000.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of First Foundation in the fourth quarter worth about $33,000. Phocas Financial Corp. bought a new stake in First Foundation during the fourth quarter worth approximately $41,000. BNP Paribas Arbitrage SA increased its stake in First Foundation by 71,972.7% during the first quarter. BNP Paribas Arbitrage SA now owns 7,928 shares of the bank’s stock worth $108,000 after acquiring an additional 7,917 shares during the last quarter. Acadian Asset Management LLC bought a new stake in First Foundation during the fourth quarter worth approximately $126,000. Finally, Triad Investment Management bought a new stake in First Foundation during the first quarter worth approximately $136,000. Institutional investors and hedge funds own 60.92% of the company’s stock.

Shares of NASDAQ FFWM traded up $0.01 during trading hours on Friday, reaching $13.81. The stock had a trading volume of 110,022 shares, compared to its average volume of 117,325. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41. The firm has a market cap of $616.20 million, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.83. The company has a fifty day moving average price of $13.52. First Foundation Inc has a 52-week low of $11.79 and a 52-week high of $18.87.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $49.51 million during the quarter, compared to analyst estimates of $50.83 million. First Foundation had a return on equity of 9.54% and a net margin of 17.42%. As a group, equities research analysts anticipate that First Foundation Inc will post 1.22 EPS for the current year.

FFWM has been the topic of several analyst reports. Zacks Investment Research cut First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.10.

First Foundation Profile

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in 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 certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

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

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