Phocas Financial Corp. lifted its holdings in shares of First Foundation Inc. (NASDAQ:FFWM – Get Rating) by 51.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 484,678 shares of the bank's stock after buying an additional 164,300 shares during the period. First Foundation comprises about 1.4% of Phocas Financial Corp.'s portfolio, making the stock its 9th biggest holding. Phocas Financial Corp.'s holdings in First Foundation were worth $8,792,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Beacon Pointe Advisors LLC acquired a new stake in shares of First Foundation in the 2nd quarter valued at approximately $205,000. US Bancorp DE lifted its stake in First Foundation by 79.5% in the second quarter. US Bancorp DE now owns 1,712 shares of the bank's stock valued at $35,000 after buying an additional 758 shares during the period. GMT Capital Corp boosted its holdings in shares of First Foundation by 39.7% during the 2nd quarter. GMT Capital Corp now owns 3,085,494 shares of the bank's stock worth $63,191,000 after buying an additional 877,113 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of First Foundation by 61.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 188,216 shares of the bank's stock valued at $3,855,000 after acquiring an additional 71,951 shares in the last quarter. Finally, Keeley Teton Advisors LLC boosted its stake in First Foundation by 73.1% during the second quarter. Keeley Teton Advisors LLC now owns 270,382 shares of the bank's stock worth $5,537,000 after acquiring an additional 114,176 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Foundation news, CEO Scott F. Kavanaugh purchased 7,200 shares of the company's stock in a transaction on Tuesday, November 29th. The stock was acquired at an average cost of $13.84 per share, for a total transaction of $99,648.00. Following the purchase, the chief executive officer now directly owns 1,291,529 shares of the company's stock, valued at approximately $17,874,761.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Elizabeth A. Pagliarini purchased 5,471 shares of the business's stock in a transaction on Monday, November 28th. The shares were acquired at an average cost of $13.71 per share, with a total value of $75,007.41. Following the completion of the acquisition, the director now owns 7,143 shares of the company's stock, valued at $97,930.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott F. Kavanaugh acquired 7,200 shares of the company's stock in a transaction dated Tuesday, November 29th. The stock was acquired at an average cost of $13.84 per share, for a total transaction of $99,648.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,291,529 shares in the company, valued at $17,874,761.36. The disclosure for this purchase can be found here. Company insiders own 10.20% of the company's stock.

Analyst Ratings Changes

First Foundation Trading Up 0.8 %

Shares of First Foundation stock traded up $0.11 during midday trading on Tuesday, reaching $13.92. 1,156 shares of the company's stock traded hands, compared to its average volume of 285,887. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.09 and a current ratio of 1.09. First Foundation Inc. has a 12 month low of $13.17 and a 12 month high of $28.01. The company has a market cap of $784.92 million, a PE ratio of 6.39 and a beta of 0.99. The stock has a 50 day moving average of $15.30 and a 200-day moving average of $18.36.

First Foundation (NASDAQ:FFWM – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). First Foundation had a return on equity of 10.71% and a net margin of 29.45%. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $98.00 million. As a group, equities analysts expect that First Foundation Inc. will post 2.04 EPS for the current fiscal year.

First Foundation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.16%. The ex-dividend date was Friday, November 4th. First Foundation's dividend payout ratio is 20.37%.

First Foundation Profile

(Get Rating)

First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management 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 order of withdrawal 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, and 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.

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