127,987 Shares in First Foundation Inc. (NASDAQ:FFWM) Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans bought a new position in First Foundation Inc. (NASDAQ:FFWM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 127,987 shares of the bank's stock, valued at approximately $838,000. Thrivent Financial for Lutherans owned about 0.23% of First Foundation at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC raised its stake in shares of First Foundation by 49.0% in the fourth quarter. Rafferty Asset Management LLC now owns 149,590 shares of the bank's stock worth $1,448,000 after buying an additional 49,197 shares during the period. Azora Capital LP increased its holdings in shares of First Foundation by 3.1% in the fourth quarter. Azora Capital LP now owns 3,033,696 shares of the bank's stock worth $29,366,000 after purchasing an additional 90,840 shares during the last quarter. BHZ Capital Management LP lifted its position in shares of First Foundation by 33.7% in the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank's stock worth $7,186,000 after buying an additional 187,182 shares in the last quarter. Quadrature Capital Ltd bought a new position in First Foundation during the fourth quarter valued at approximately $126,000. Finally, Riverview Trust Co bought a new stake in First Foundation in the 1st quarter worth approximately $25,000. Institutional investors own 73.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FFWM shares. StockNews.com downgraded First Foundation from a "hold" rating to a "sell" rating in a research report on Friday, July 26th. Raymond James cut First Foundation from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, July 3rd. Wedbush dropped their target price on shares of First Foundation from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Wednesday, July 3rd. Stephens lowered First Foundation from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. Finally, DA Davidson upgraded First Foundation from a "neutral" rating to a "buy" rating and increased their price objective for the company from $8.00 to $9.00 in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, First Foundation has an average rating of "Hold" and an average price target of $7.80.

First Foundation Stock Performance

Shares of NASDAQ FFWM traded up $0.08 during midday trading on Monday, reaching $6.79. The company had a trading volume of 365,518 shares, compared to its average volume of 614,716. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $11.47. The business's 50-day simple moving average is $6.50 and its 200 day simple moving average is $6.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. The stock has a market cap of $383.43 million, a P/E ratio of -1.85 and a beta of 1.32.

First Foundation (NASDAQ:FFWM - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.06 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $54.23 million. During the same period in the prior year, the company earned $0.07 earnings per share. On average, analysts forecast that First Foundation Inc. will post -0.06 earnings per share for the current fiscal year.

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.