Assenagon Asset Management S.A. Makes New Investment in First Foundation Inc. (NASDAQ:FFWM)

Assenagon Asset Management S.A. acquired a new position in First Foundation Inc. (NASDAQ:FFWM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 124,754 shares of the bank’s stock, valued at approximately $775,000. Assenagon Asset Management S.A. owned about 0.15% of First Foundation as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in First Foundation by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 503,824 shares of the bank’s stock worth $3,144,000 after purchasing an additional 90,612 shares during the last quarter. Strategic Value Bank Partners LLC increased its holdings in shares of First Foundation by 115.3% in the third quarter. Strategic Value Bank Partners LLC now owns 2,898,343 shares of the bank’s stock worth $18,086,000 after buying an additional 1,551,861 shares during the period. Geode Capital Management LLC lifted its stake in shares of First Foundation by 21.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,416,963 shares of the bank’s stock valued at $8,844,000 after acquiring an additional 249,237 shares during the last quarter. FMR LLC boosted its holdings in First Foundation by 20.1% during the 3rd quarter. FMR LLC now owns 6,099,900 shares of the bank’s stock valued at $38,063,000 after acquiring an additional 1,019,484 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in First Foundation during the 2nd quarter worth approximately $563,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stephens downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and an average price target of $6.75.

First Foundation Trading Up 0.1 %

NASDAQ FFWM opened at $6.24 on Friday. The stock has a market cap of $513.51 million, a P/E ratio of -5.57 and a beta of 1.37. First Foundation Inc. has a fifty-two week low of $4.84 and a fifty-two week high of $11.47. The stock has a 50 day simple moving average of $6.82 and a two-hundred day simple moving average of $6.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04.

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.