Goldman Sachs Group Inc. Reduces Stake in First Foundation Inc. (FFWM)

Goldman Sachs Group Inc. decreased its stake in shares of First Foundation Inc. (NASDAQ:FFWM) by 19.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,168 shares of the bank’s stock after selling 6,588 shares during the quarter. Goldman Sachs Group Inc. owned 0.08% of First Foundation worth $446,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FFWM. OxFORD Asset Management LLP boosted its position in shares of First Foundation by 5.0% during the 2nd quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock valued at $265,000 after acquiring an additional 772 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of First Foundation by 8.3% during the 2nd quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock valued at $319,000 after acquiring an additional 1,498 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of First Foundation by 9.0% during the 2nd quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock valued at $349,000 after acquiring an additional 1,749 shares in the last quarter. Rhumbline Advisers boosted its position in shares of First Foundation by 7.2% during the 2nd quarter. Rhumbline Advisers now owns 30,655 shares of the bank’s stock valued at $504,000 after acquiring an additional 2,062 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of First Foundation by 4.8% during the 2nd quarter. Victory Capital Management Inc. now owns 66,900 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 3,050 shares in the last quarter. Institutional investors own 52.07% of the company’s stock.

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FFWM has been the topic of several recent research reports. TheStreet upgraded shares of First Foundation from a “c-” rating to a “b-” rating in a research report on Tuesday, October 31st. FBR & Co set a $21.00 target price on shares of First Foundation and gave the company a “buy” rating in a research report on Monday, July 17th. BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of First Foundation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, October 27th. Finally, ValuEngine lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.88.

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 16,245 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $16.60, for a total value of $269,667.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $332,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gerald L. Larsen sold 17,400 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.40, for a total transaction of $302,760.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,200 shares of company stock worth $2,404,550. Company insiders own 18.50% of the company’s stock.

First Foundation Inc. (FFWM) opened at $17.65 on Tuesday. The company has a market cap of $618.31, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.67. First Foundation Inc. has a 12-month low of $12.59 and a 12-month high of $19.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.07 and a quick ratio of 1.02.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The firm had revenue of $38.30 million for the quarter, compared to analyst estimates of $38.83 million. First Foundation had a net margin of 19.62% and a return on equity of 10.32%. equities research analysts predict that First Foundation Inc. will post 0.96 EPS for the current year.

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.

Institutional Ownership by Quarter for First Foundation (NASDAQ:FFWM)

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