Algert Global LLC Has $647,000 Holdings in First Foundation Inc. (NASDAQ:FFWM)

Algert Global LLC reduced its holdings in First Foundation Inc. (NASDAQ:FFWM) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,798 shares of the bank’s stock after selling 9,962 shares during the period. Algert Global LLC owned approximately 0.17% of First Foundation worth $647,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FFWM. Azora Capital LP raised its stake in First Foundation by 3.1% during the fourth quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock worth $29,366,000 after acquiring an additional 90,840 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Foundation by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock worth $21,592,000 after acquiring an additional 31,026 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Foundation by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after purchasing an additional 24,440 shares in the last quarter. BHZ Capital Management LP lifted its holdings in First Foundation by 33.7% during the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock worth $7,186,000 after acquiring an additional 187,182 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of First Foundation in the 1st quarter valued at approximately $3,819,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

First Foundation Stock Up 2.0 %

Shares of NASDAQ:FFWM opened at $6.70 on Friday. 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 Inc. has a 52-week low of $4.41 and a 52-week high of $11.47. The business’s 50 day simple moving average is $6.51 and its two-hundred day simple moving average is $6.32. The firm has a market cap of $378.63 million, a P/E ratio of -1.83 and a beta of 1.32.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FFWM shares. Piper Sandler reaffirmed a “neutral” rating and set a $6.00 price target on shares of First Foundation in a research report on Wednesday, July 3rd. Stephens downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. DA Davidson upgraded First Foundation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Wedbush lowered their price target on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.80.

About First Foundation

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.