Bank of New York Mellon Corp Raises Holdings in First Foundation Inc. (NASDAQ:FFWM)

Bank of New York Mellon Corp raised its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,112 shares of the bank’s stock after buying an additional 15,190 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of First Foundation worth $1,232,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of First Foundation by 22.5% during the 4th quarter. Principal Financial Group Inc. now owns 32,971 shares of the bank’s stock worth $319,000 after purchasing an additional 6,045 shares during the period. Trexquant Investment LP raised its holdings in First Foundation by 122.3% in the fourth quarter. Trexquant Investment LP now owns 122,851 shares of the bank’s stock worth $1,189,000 after purchasing an additional 67,583 shares in the last quarter. Quest Partners LLC bought a new stake in shares of First Foundation in the 4th quarter valued at about $440,000. TFO Wealth Partners LLC boosted its stake in First Foundation by 38,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 16,896 shares of the bank’s stock valued at $164,000 after acquiring an additional 16,852 shares in the last quarter. Finally, rhino investment partners Inc acquired a new stake in First Foundation in the fourth quarter worth about $4,093,000. Institutional investors own 73.10% of the company’s stock.

First Foundation Stock Down 3.4 %

FFWM stock opened at $6.77 on Friday. The company’s 50 day moving average price is $6.57 and its 200 day moving average price is $6.42. The firm has a market capitalization of $382.59 million, a price-to-earnings ratio of -1.85 and a beta of 1.33. First Foundation Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $11.47. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.04 and a current ratio of 1.04.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FFWM shares. StockNews.com lowered shares of First Foundation from a “hold” rating to a “sell” rating in a report on Friday, July 26th. DA Davidson upgraded First Foundation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Raymond James lowered shares of First Foundation from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 3rd. Stephens upped their price target on shares of First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.