Alpine Woods Capital Investors LLC Takes $248,000 Position in First Foundation Inc (FFWM)
Alpine Woods Capital Investors LLC bought a new position in First Foundation Inc (NASDAQ:FFWM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,895 shares of the bank’s stock, valued at approximately $248,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FFWM. FMR LLC increased its position in shares of First Foundation by 26.1% in the 2nd quarter. FMR LLC now owns 3,968,414 shares of the bank’s stock worth $73,574,000 after purchasing an additional 820,394 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of First Foundation by 21.8% in the 2nd quarter. BlackRock Inc. now owns 1,974,768 shares of the bank’s stock valued at $36,612,000 after buying an additional 353,161 shares during the period. Millennium Management LLC acquired a new position in shares of First Foundation in the 2nd quarter valued at about $5,968,000. Dimensional Fund Advisors LP boosted its holdings in shares of First Foundation by 39.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,001,365 shares of the bank’s stock valued at $18,566,000 after buying an additional 282,455 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of First Foundation by 130.1% in the 2nd quarter. Wells Fargo & Company MN now owns 419,889 shares of the bank’s stock valued at $7,785,000 after buying an additional 237,423 shares during the period. 53.26% of the stock is owned by institutional investors.
NASDAQ FFWM opened at $16.26 on Friday. First Foundation Inc has a one year low of $14.00 and a one year high of $20.43. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $716.88 million, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.47.
FFWM has been the subject of several research reports. TheStreet raised shares of First Foundation from a “c+” rating to a “b-” rating in a report on Thursday, November 1st. B. Riley set a $19.00 price target on shares of First Foundation and gave the company a “buy” rating in a report on Friday, October 12th. Sandler O’Neill lowered shares of First Foundation from a “buy” rating to a “hold” rating and set a $21.50 price target for the company. in a report on Tuesday, July 31st. Piper Jaffray Companies set a $16.00 price target on shares of First Foundation and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Zacks Investment Research raised shares of First Foundation from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.90.
In other First Foundation news, insider John Hakopian sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $16.25, for a total transaction of $325,000.00. Following the completion of the transaction, the insider now directly owns 33,200 shares of the company’s stock, valued at approximately $539,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James G. Brakke bought 5,500 shares of First Foundation stock in a transaction on Wednesday, August 29th. The shares were purchased at an average cost of $15.92 per share, with a total value of $87,560.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 13,900 shares of company stock valued at $224,822 and sold 93,400 shares valued at $1,533,014. Insiders own 14.30% of the company’s stock.
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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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