California State Teachers Retirement System Acquires New Position in First Foundation Inc. (FFWM)
California State Teachers Retirement System acquired a new position in First Foundation Inc. (NASDAQ:FFWM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,673 shares of the company’s stock, valued at approximately $595,000. California State Teachers Retirement System owned 0.17% of First Foundation at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of FFWM. Bank of New York Mellon Corp boosted its stake in shares of First Foundation by 183.8% in the second quarter. Bank of New York Mellon Corp now owns 37,392 shares of the company’s stock worth $804,000 after buying an additional 24,217 shares during the period. Northpointe Capital LLC boosted its stake in shares of First Foundation by 34.8% in the second quarter. Northpointe Capital LLC now owns 136,152 shares of the company’s stock worth $2,927,000 after buying an additional 35,159 shares during the period. Eagle Boston Investment Management Inc. boosted its stake in shares of First Foundation by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 173,257 shares of the company’s stock worth $3,725,000 after buying an additional 4,890 shares during the period. Aristotle Capital Boston LLC boosted its stake in shares of First Foundation by 37.4% in the first quarter. Aristotle Capital Boston LLC now owns 89,034 shares of the company’s stock worth $1,997,000 after buying an additional 24,221 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of First Foundation by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,526,613 shares of the company’s stock worth $34,242,000 after buying an additional 38,855 shares during the period. 56.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Foundation Inc. (NASDAQ:FFWM) traded up 0.04% during trading on Friday, reaching $24.58. The company’s stock had a trading volume of 8,351 shares. First Foundation Inc. has a 12-month low of $20.00 and a 12-month high of $25.25. The company has a 50 day moving average of $24.59 and a 200 day moving average of $23.00. The company has a market cap of $398.69 million, a PE ratio of 25.77 and a beta of 0.41.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.10. First Foundation had a return on equity of 4.84% and a net margin of 12.68%. On average, analysts anticipate that First Foundation Inc. will post $1.38 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised First Foundation from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 31st. DA Davidson restated a “buy” rating and issued a $27.00 target price on shares of First Foundation in a research note on Tuesday, August 23rd. Finally, FBR & Co upped their target price on First Foundation from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th.
In related news, Director Victoria Collins sold 5,000 shares of First Foundation stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.19, for a total value of $115,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.00% of the stock is owned by corporate insiders.
About First Foundation
First Foundation Inc is a financial services holding company. The Company provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
Want to see what other hedge funds are holding FFWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Foundation Inc. (NASDAQ:FFWM).
Receive News & Ratings for First Foundation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Foundation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.