First Foundation Inc. (FFWM) Holdings Lifted by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company increased its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,079 shares of the bank’s stock after purchasing an additional 1,165 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of First Foundation worth $362,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in First Foundation by 2.4% in the second quarter. FMR LLC now owns 1,529,878 shares of the bank’s stock worth $25,135,000 after purchasing an additional 36,484 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Foundation by 5.7% in the second quarter. Vanguard Group Inc. now owns 1,152,829 shares of the bank’s stock worth $18,941,000 after purchasing an additional 62,230 shares in the last quarter. Banc Funds Co. LLC boosted its stake in First Foundation by 5.3% in the second quarter. Banc Funds Co. LLC now owns 814,398 shares of the bank’s stock worth $13,381,000 after purchasing an additional 41,000 shares in the last quarter. State Street Corp boosted its stake in First Foundation by 13.8% in the second quarter. State Street Corp now owns 457,699 shares of the bank’s stock worth $7,520,000 after purchasing an additional 55,468 shares in the last quarter. Finally, Northpointe Capital LLC boosted its stake in First Foundation by 68.3% in the second quarter. Northpointe Capital LLC now owns 402,202 shares of the bank’s stock worth $6,608,000 after purchasing an additional 163,212 shares in the last quarter. Institutional investors and hedge funds own 50.95% of the company’s stock.
In related news, CFO John Michel sold 10,400 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $16.80, for a total value of $174,720.00. Following the completion of the sale, the chief financial officer now owns 83,691 shares in the company, valued at $1,406,008.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Hakopian sold 10,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $16.48, for a total value of $164,800.00. Following the completion of the sale, the insider now owns 33,200 shares of the company’s stock, valued at approximately $547,136. The disclosure for this sale can be found here. Insiders have sold 95,845 shares of company stock worth $1,588,747 in the last ninety days. 18.50% of the stock is currently owned by insiders.
First Foundation Inc. (NASDAQ FFWM) opened at $19.07 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.02 and a current ratio of 1.07. First Foundation Inc. has a one year low of $13.55 and a one year high of $19.84. The stock has a market capitalization of $671.86 and a price-to-earnings ratio of 20.65.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. The business had revenue of $38.30 million for the quarter, compared to analyst estimates of $38.83 million. analysts forecast that First Foundation Inc. will post 0.96 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “First Foundation Inc. (FFWM) Holdings Lifted by The Manufacturers Life Insurance Company” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.thecerbatgem.com/2017/12/01/first-foundation-inc-ffwm-holdings-lifted-by-the-manufacturers-life-insurance-company.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.
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 & 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.