First Foundation Inc. (FFWM) Position Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its position in First Foundation Inc. (NASDAQ:FFWM) by 183.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,392 shares of the company’s stock after buying an additional 24,217 shares during the period. Bank of New York Mellon Corp owned approximately 0.23% of First Foundation worth $804,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in FFWM. Northpointe Capital LLC increased its position in 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 last quarter. Eagle Boston Investment Management Inc. increased its position in 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 last quarter. Aristotle Capital Boston LLC increased its position in 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 last quarter. Wellington Management Group LLP increased its position in 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 last quarter. Finally, Geode Capital Management LLC increased its position in First Foundation by 1.2% in the first quarter. Geode Capital Management LLC now owns 68,279 shares of the company’s stock worth $1,531,000 after buying an additional 820 shares during the last quarter. 56.09% of the stock is owned by institutional investors.
Shares of First Foundation Inc. (NASDAQ:FFWM) traded up 0.02% during midday trading on Tuesday, reaching $24.45. 2,372 shares of the company’s stock were exchanged. The company has a market cap of $396.58 million, a price-to-earnings ratio of 25.63 and a beta of 0.41. The stock’s 50 day moving average price is $24.58 and its 200 day moving average price is $23.11. First Foundation Inc. has a 12-month low of $20.00 and a 12-month high of $25.25.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. First Foundation had a return on equity of 4.84% and a net margin of 12.68%. Equities analysts anticipate that First Foundation Inc. will post $1.38 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of First Foundation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 31st. DA Davidson reissued a “buy” rating and issued a $27.00 price target on shares of First Foundation in a research note on Tuesday, August 23rd. Finally, FBR & Co increased their price target on shares of First Foundation from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th.
In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of First Foundation stock in a transaction on Friday, July 29th. The shares were sold at an average price of $23.43, for a total value of $117,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.00% of the stock is currently owned by company insiders.
First Foundation Company Profile
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.
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