New York State Common Retirement Fund Sells 1 Shares of First Foundation Inc. (FFWM)

New York State Common Retirement Fund cut its holdings in First Foundation Inc. (NASDAQ:FFWM) by 0.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,000 shares of the bank’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned 0.08% of First Foundation worth $444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after acquiring an additional 4,112 shares during the period. Alliancebernstein L.P. bought a new position in First Foundation in the first quarter worth approximately $192,000. Marshall Wace North America L.P. bought a new position in First Foundation in the second quarter worth approximately $230,000. American International Group Inc. raised its position in First Foundation by 114.2% in the first quarter. American International Group Inc. now owns 16,256 shares of the bank’s stock worth $252,000 after acquiring an additional 8,668 shares during the period. Finally, Trexquant Investment LP bought a new position in First Foundation in the second quarter worth approximately $267,000. Institutional investors and hedge funds own 52.07% of the company’s stock.

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Shares of First Foundation Inc. (NASDAQ:FFWM) opened at $17.87 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market cap of $665.40, a price-to-earnings ratio of 19.18, a PEG ratio of 2.64 and a beta of 0.67. First Foundation Inc. has a 52 week low of $12.59 and a 52 week high of $19.84.

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

Several research analysts have weighed in on the stock. BidaskClub downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet upgraded shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. Zacks Investment Research downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, ValuEngine downgraded 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 assigned a buy rating to the stock. First Foundation currently has an average rating of “Buy” and an average price target of $19.88.

In other news, Chairman Ulrich E. Keller, Jr. sold 13,534 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $17.00, for a total value of $230,078.00. Following the completion of the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at $340,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 8,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.47, for a total transaction of $131,760.00. Following the completion of the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at $329,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,200 shares of company stock valued at $1,866,782. Corporate insiders own 18.50% of the company’s stock.

First Foundation Company 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.

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

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