North Reef Capital Management LP Sells 714,694 Shares of First Foundation Inc. $FFWM

North Reef Capital Management LP decreased its holdings in First Foundation Inc. (NYSE:FFWM) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,900,306 shares of the company’s stock after selling 714,694 shares during the quarter. First Foundation accounts for approximately 1.8% of North Reef Capital Management LP’s investment portfolio, making the stock its 14th biggest holding. North Reef Capital Management LP owned 0.08% of First Foundation worth $38,435,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FFWM. Vanguard Personalized Indexing Management LLC raised its stake in shares of First Foundation by 12.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,755 shares of the company’s stock worth $104,000 after purchasing an additional 2,060 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of First Foundation by 4.9% during the second quarter. Quantbot Technologies LP now owns 58,055 shares of the company’s stock valued at $296,000 after buying an additional 2,692 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of First Foundation during the third quarter valued at approximately $27,000. Sei Investments Co. grew its holdings in First Foundation by 11.6% during the third quarter. Sei Investments Co. now owns 63,625 shares of the company’s stock worth $354,000 after buying an additional 6,600 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in First Foundation by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,648,635 shares of the company’s stock worth $8,410,000 after buying an additional 8,002 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

First Foundation Trading Up 1.2%

Shares of NYSE:FFWM opened at $5.65 on Tuesday. The stock’s 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $5.85. The stock has a market capitalization of $467.88 million, a price-to-earnings ratio of -2.99 and a beta of 0.92. First Foundation Inc. has a 52-week low of $4.41 and a 52-week high of $6.72. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.94 and a current ratio of 0.99.

First Foundation (NYSE:FFWM) last issued 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). The business had revenue of $48.36 million during the quarter. First Foundation had a positive return on equity of 1.06% and a negative net margin of 26.37%.

Analyst Upgrades and Downgrades

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

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.