The Manufacturers Life Insurance Company Boosts Holdings in First Foundation Inc. (NASDAQ:FFWM)

The Manufacturers Life Insurance Company boosted its holdings in First Foundation Inc. (NASDAQ:FFWM) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,759 shares of the bank’s stock after purchasing an additional 1,632 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Foundation were worth $136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of First Foundation during the first quarter worth $25,000. Caxton Associates LP purchased a new stake in shares of First Foundation during the 1st quarter worth approximately $123,000. Quadrature Capital Ltd bought a new position in shares of First Foundation during the 4th quarter valued at approximately $126,000. Boston Partners bought a new position in shares of First Foundation during the 1st quarter valued at approximately $128,000. Finally, SG Americas Securities LLC purchased a new position in shares of First Foundation in the second quarter valued at $162,000. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Down 0.5 %

Shares of NASDAQ FFWM opened at $7.67 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $6.30. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $11.47. The company has a market cap of $433.45 million, a P/E ratio of -2.10 and a beta of 1.32.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. The company had revenue of $164.57 million for the quarter, compared to the consensus estimate of $54.23 million. During the same quarter in the prior year, the company posted $0.07 EPS. Research analysts anticipate that First Foundation Inc. will post -0.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on FFWM. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Wedbush dropped their price target on First Foundation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Raymond James lowered First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 target price on shares of First Foundation in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.80.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.