Maltese Capital Management LLC Buys 118,949 Shares of First Foundation Inc. $FFWM

Maltese Capital Management LLC lifted its stake in shares of First Foundation Inc. (NYSE:FFWM) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,330,149 shares of the company’s stock after purchasing an additional 118,949 shares during the period. First Foundation makes up about 2.0% of Maltese Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Maltese Capital Management LLC owned approximately 2.81% of First Foundation worth $12,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FFWM. Cloud Capital Management LLC bought a new position in First Foundation in the 3rd quarter valued at $27,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of First Foundation during the third quarter worth $68,000. Inceptionr LLC acquired a new position in shares of First Foundation during the second quarter valued at $74,000. Arcus Capital Partners LLC bought a new position in First Foundation in the third quarter valued at about $97,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in First Foundation by 12.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,755 shares of the company’s stock valued at $104,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

FFWM has been the topic of a number of research reports. Zacks Research downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of First Foundation in a research note on Monday, December 29th. Finally, DA Davidson lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, First Foundation has an average rating of “Moderate Buy” and a consensus target price of $6.58.

First Foundation Price Performance

First Foundation stock opened at $5.65 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $467.88 million, a P/E ratio of -2.99 and a beta of 0.92. The business has a 50-day moving average of $6.13 and a 200-day moving average of $5.85. First Foundation Inc. has a 1 year low of $4.41 and a 1 year high of $6.72.

First Foundation (NYSE:FFWM) last released its quarterly earnings data on Thursday, January 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). First Foundation had a positive return on equity of 1.06% and a negative net margin of 26.37%.The firm had revenue of $48.36 million for the quarter.

First Foundation Company Profile

First Foundation Inc (NYSE: FFWM) is a financial services company headquartered in Irvine, California. Through its banking and advisory subsidiaries, the company delivers a range of wealth management, strategic consulting and lending solutions to high-net-worth individuals, families, entrepreneurs and closely held businesses. First Foundation’s integrated business model combines personalized advisory services with commercial and consumer banking capabilities under one corporate umbrella.

The company’s wealth management arm offers financial planning, investment management, trust and estate planning, tax planning and family office services.