14,359 Shares in First Foundation Inc. (FFWM) Purchased by Marshall Wace North America L.P.
Marshall Wace North America L.P. acquired a new position in First Foundation Inc. (NASDAQ:FFWM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,359 shares of the bank’s stock, valued at approximately $230,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of FFWM. Teachers Advisors LLC boosted its holdings in shares of First Foundation by 4.1% in the 4th quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock worth $627,000 after purchasing an additional 872 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of First Foundation in the 1st quarter worth about $138,000. Nationwide Fund Advisors boosted its holdings in shares of First Foundation by 90.8% in the 1st quarter. Nationwide Fund Advisors now owns 17,943 shares of the bank’s stock worth $278,000 after purchasing an additional 8,541 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of First Foundation by 8.0% in the 1st quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock worth $4,763,000 after purchasing an additional 22,616 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of First Foundation by 128.1% in the 1st quarter. Wells Fargo & Company MN now owns 81,240 shares of the bank’s stock worth $1,260,000 after purchasing an additional 45,620 shares in the last quarter. Hedge funds and other institutional investors own 52.33% of the company’s stock.
Shares of First Foundation Inc. (NASDAQ:FFWM) opened at 16.97 on Friday. The stock has a 50 day moving average price of $16.95 and a 200-day moving average price of $16.24. The company has a market cap of $584.84 million, a price-to-earnings ratio of 18.29 and a beta of 0.65. First Foundation Inc. has a 1-year low of $11.64 and a 1-year high of $18.16.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. First Foundation had a return on equity of 10.82% and a net margin of 20.14%. The company had revenue of $37.59 million during the quarter, compared to analyst estimates of $36.38 million. Equities research analysts forecast that First Foundation Inc. will post $0.94 earnings per share for the current year.
In other First Foundation news, Director Gerald L. Larsen sold 17,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $17.40, for a total transaction of $302,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $16.38, for a total value of $163,800.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $327,600. The disclosure for this sale can be found here. Insiders have sold 173,600 shares of company stock valued at $2,918,822 in the last 90 days. Company insiders own 18.50% of the company’s stock.
FFWM has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $19.50 target price on shares of First Foundation in a research note on Monday, June 19th. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. FBR & Co set a $21.00 target price on First Foundation and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.13.
ILLEGAL ACTIVITY NOTICE: This article was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/09/16/14359-shares-in-first-foundation-inc-ffwm-purchased-by-marshall-wace-north-america-l-p.html.
First Foundation Profile
First Foundation Inc is a financial services holding company that 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.