Mirabella Financial Services LLP Cuts Stock Holdings in First Foundation Inc. $FFWM

Mirabella Financial Services LLP reduced its stake in First Foundation Inc. (NYSE:FFWM) by 69.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 279,263 shares of the company’s stock after selling 624,367 shares during the period. Mirabella Financial Services LLP owned approximately 0.34% of First Foundation worth $1,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of First Foundation by 223.7% during the first quarter. AQR Capital Management LLC now owns 318,673 shares of the company’s stock valued at $1,654,000 after purchasing an additional 220,222 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of First Foundation by 28.3% in the first quarter. Goldman Sachs Group Inc. now owns 618,288 shares of the company’s stock worth $3,209,000 after buying an additional 136,308 shares in the last quarter. Jane Street Group LLC boosted its stake in First Foundation by 273.2% during the first quarter. Jane Street Group LLC now owns 110,230 shares of the company’s stock valued at $572,000 after buying an additional 80,696 shares during the last quarter. Geode Capital Management LLC boosted its stake in First Foundation by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,648,635 shares of the company’s stock valued at $8,410,000 after buying an additional 8,002 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in First Foundation by 29.1% during the 2nd quarter. SG Americas Securities LLC now owns 58,460 shares of the company’s stock valued at $298,000 after buying an additional 13,193 shares in the last quarter. Institutional investors own 73.10% of the company’s stock.

First Foundation Price Performance

Shares of First Foundation stock opened at $5.79 on Friday. The stock has a market cap of $479.73 million, a price-to-earnings ratio of -3.06 and a beta of 0.92. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 0.90. The stock has a 50 day moving average price of $6.10 and a 200-day moving average price of $5.84. First Foundation Inc. has a one year low of $4.41 and a one year high of $6.72.

First Foundation (NYSE:FFWM) last issued its quarterly earnings results on Thursday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $48.36 million during the quarter. First Foundation had a positive return on equity of 1.09% and a negative net margin of 26.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of First Foundation in a research report on Monday, December 29th. Finally, DA Davidson cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, First Foundation currently has an average rating of “Moderate Buy” and an average target price of $6.58.

First Foundation Company Profile

First Foundation Inc (NYSE: FFWM) is a financial services company headquartered in Irvine, California. Through its banking and advisory subsidiaries, the company delivers a range of wealth management, strategic consulting and lending solutions to high-net-worth individuals, families, entrepreneurs and closely held businesses. First Foundation’s integrated business model combines personalized advisory services with commercial and consumer banking capabilities under one corporate umbrella.

The company’s wealth management arm offers financial planning, investment management, trust and estate planning, tax planning and family office services.