Prospera Financial Services Inc buys shares of 3,449 First Foundation Inc. (NASDAQ: FFWM)

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Prospera Financial Services Inc. acquired a new stake in First Foundation Inc. (NASDAQ:FFWM – Get Rating) during the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund bought 3,449 shares of the bank, valued at around $84,000.

Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Principal Financial Group Inc. increased its equity stake in First Foundation by 1.1% during the fourth quarter. Principal Financial Group Inc. now owns 903,342 shares of the bank worth $22,457,000 after purchasing an additional 9,685 shares in the last quarter. River Oaks Capital LLC acquired a new position in shares of First Foundation in the fourth quarter worth approximately $754,000. Artemis Investment Management LLP increased its stake in First Foundation shares by 4.8% in the fourth quarter. Artemis Investment Management LLP now owns 433,193 shares of the bank worth $10,747,000 after acquiring an additional 19,817 shares during the period. Bank of America Corp DE increased its stake in First Foundation shares by 7.6% in the fourth quarter. Bank of America Corp DE now owns 431,361 shares of the bank worth $10,723,000 after acquiring 30,639 additional shares during the period. Finally, Northern Trust Corp increased its stake in First Foundation shares by 1.4% in the fourth quarter. Northern Trust Corp now owns 422,747 shares of the bank worth $10,510,000 after acquiring an additional 5,754 shares during the period. Institutional investors hold 60.50% of the company’s shares.

First base prize

NASDAQ:FFWM shares opened at $20.03 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt ratio of 0.30. First Foundation Inc. has a 12-month low of $18.31 and a 12-month high of $29.41. The stock’s 50-day moving average is $20.63 and its 200-day moving average is $23.08. The company has a market capitalization of $1.13 billion, a price-earnings ratio of 8.08 and a beta of 1.16.

Announcement of the Foundation’s first dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 16. Shareholders of record on Saturday August 6 will receive a dividend of $0.11 per share. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday August 4th. First Foundation’s payout ratio is 17.74%.

Changes to analyst ratings

FFWM has been the subject of a number of recent analyst reports. Raymond James cut his price target on First Foundation from $28.00 to $25.00 and set an “outperform” rating on the stock in a Thursday, July 7 research note. B. Riley raised his price target on First Foundation from $21.00 to $23.00 in a Wednesday July 27 research note.

First foundation profile

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First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking services in the United States. It operates through two segments, Banking and Wealth Management. The Company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family 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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