Mesirow Financial Investment Management Inc. lessened its holdings in shares of First Foundation Inc (NASDAQ:FFWM) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,357 shares of the bank’s stock after selling 12,499 shares during the quarter. First Foundation makes up 1.9% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 13th biggest position. Mesirow Financial Investment Management Inc. owned 0.06% of First Foundation worth $459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its holdings in First Foundation by 6.6% in the first quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock worth $54,289,000 after purchasing an additional 247,100 shares in the last quarter. BlackRock Inc. raised its holdings in First Foundation by 1.9% in the second quarter. BlackRock Inc. now owns 2,645,975 shares of the bank’s stock worth $35,562,000 after purchasing an additional 49,648 shares in the last quarter. Vanguard Group Inc. raised its holdings in First Foundation by 1.4% in the second quarter. Vanguard Group Inc. now owns 1,884,703 shares of the bank’s stock worth $25,331,000 after purchasing an additional 25,392 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in First Foundation by 75.1% in the second quarter. Balyasny Asset Management LLC now owns 645,534 shares of the bank’s stock worth $8,676,000 after purchasing an additional 276,892 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in First Foundation by 2.1% in the second quarter. Northern Trust Corp now owns 472,546 shares of the bank’s stock worth $6,351,000 after purchasing an additional 9,721 shares in the last quarter. Institutional investors and hedge funds own 59.20% of the company’s stock.
In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.54, for a total value of $165,400.00. Following the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at $330,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 37,337 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.47, for a total value of $614,940.39. Following the completion of the sale, the chairman now directly owns 20,000 shares in the company, valued at $329,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,937 shares of company stock worth $1,356,902. Insiders own 13.90% of the company’s stock.
FFWM traded up $0.10 during trading on Thursday, reaching $17.05. The stock had a trading volume of 101,180 shares, compared to its average volume of 85,226. The stock’s 50 day moving average is $16.83 and its two-hundred day moving average is $15.23. The company has a current ratio of 0.98, a quick ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $753.31 million, a price-to-earnings ratio of 14.57 and a beta of 0.87. First Foundation Inc has a one year low of $12.91 and a one year high of $17.64.
First Foundation (NASDAQ:FFWM) last released its earnings results on Wednesday, October 23rd. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. First Foundation had a return on equity of 9.52% and a net margin of 19.41%. The firm had revenue of $57.11 million for the quarter, compared to analysts’ expectations of $56.83 million. On average, equities research analysts predict that First Foundation Inc will post 1.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.05 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.17%. First Foundation’s dividend payout ratio is currently 17.09%.
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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