BNP Paribas Arbitrage SA Reduces Position in First Foundation Inc (NASDAQ:FFWM)

BNP Paribas Arbitrage SA decreased its position in shares of First Foundation Inc (NASDAQ:FFWM) by 46.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,254 shares of the bank’s stock after selling 3,674 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in First Foundation were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FFWM. Advisory Services Network LLC bought a new stake in shares of First Foundation in the 1st quarter valued at $43,000. Capital Advantage Inc. acquired a new stake in First Foundation in the 1st quarter valued at $144,000. Globeflex Capital L P grew its position in First Foundation by 18.4% in the 1st quarter. Globeflex Capital L P now owns 31,855 shares of the bank’s stock valued at $432,000 after purchasing an additional 4,955 shares during the period. Mesirow Financial Investment Management Inc. grew its position in First Foundation by 12.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 44,561 shares of the bank’s stock valued at $621,000 after purchasing an additional 4,804 shares during the period. Finally, Marshall Wace LLP acquired a new stake in First Foundation in the 1st quarter valued at $840,000. Hedge funds and other institutional investors own 60.29% of the company’s stock.

Several analysts recently issued reports on the stock. BidaskClub raised shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Zacks Investment Research downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, ValuEngine raised shares of First Foundation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. First Foundation has an average rating of “Hold” and a consensus price target of $18.00.

Shares of NASDAQ:FFWM traded down $0.01 during midday trading on Friday, reaching $15.14. The company had a trading volume of 12,717 shares, compared to its average volume of 95,323. The company’s 50 day moving average price is $14.34 and its 200 day moving average price is $14.05. The company has a current ratio of 1.10, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. The stock has a market cap of $653.48 million, a P/E ratio of 12.94, a P/E/G ratio of 1.72 and a beta of 0.86. First Foundation Inc has a 52-week low of $11.79 and a 52-week high of $16.89.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. First Foundation had a net margin of 18.97% and a return on equity of 9.35%. The company had revenue of $51.02 million for the quarter, compared to the consensus estimate of $50.43 million. Research analysts forecast that First Foundation Inc will post 1.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, August 30th. First Foundation’s dividend payout ratio is currently 17.09%.

First Foundation 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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Institutional Ownership by Quarter for First Foundation (NASDAQ:FFWM)

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