Northern Trust Corp decreased its holdings in First Foundation Inc (NASDAQ:FFWM) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,837 shares of the bank’s stock after selling 6,041 shares during the quarter. Northern Trust Corp owned about 1.03% of First Foundation worth $5,863,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in shares of First Foundation in the 4th quarter valued at about $33,000. Quantamental Technologies LLC acquired a new position in shares of First Foundation in the 4th quarter valued at about $35,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Foundation by 118.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,570 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of First Foundation in the 4th quarter valued at about $126,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of First Foundation in the 4th quarter valued at about $239,000. 60.90% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on FFWM shares. BidaskClub upgraded First Foundation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Friday, January 18th. Finally, ValuEngine cut First Foundation from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. First Foundation has an average rating of “Hold” and a consensus target price of $19.08.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. First Foundation had a return on equity of 9.54% and a net margin of 17.42%. The business had revenue of $49.51 million for the quarter, compared to analyst estimates of $50.83 million. Sell-side analysts predict that First Foundation Inc will post 1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, May 31st. First Foundation’s dividend payout ratio (DPR) is presently 17.09%.
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First Foundation Company Profile
First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.
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