Principal Financial Group Inc. holds $23.02 million in shares of First Foundation Inc. (NASDAQ:FFWM)


Principal Financial Group Inc. increased its position in shares of First Foundation Inc. (NASDAQ: FFWMGet a rating) by 4.9% in Q1, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 947,828 shares of the bank after acquiring an additional 44,486 shares during the period. Principal Financial Group Inc. owned approximately 1.68% of First Foundation worth $23,023,000 at the time of its last filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also changed their holdings in the company. The Swiss National Bank increased its equity stake in First Foundation by 6.1% in the first quarter. The Swiss National Bank now owns 113,400 shares in the bank worth $2,754,000 after acquiring an additional 6,500 shares last quarter. Teacher Retirement System of Texas purchased a new equity stake in First Foundation during the first quarter at a value of $238,000. Aviance Capital Partners LLC purchased a new equity stake in First Foundation during the first quarter at a value of $1,474,000. The New York State Common Retirement Fund increased its holdings of First Foundation stock by 41.9% in the first quarter. The New York State Common Retirement Fund now owns 62,918 shares of the bank worth $1,528,000 after acquiring 18,568 additional shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its equity stake in First Foundation by 10.7% during the first quarter. Advisor Group Holdings Inc. now owns 59,947 shares of the bank worth $1,456,000 after acquiring 5,806 additional shares last quarter. 60.50% of the shares are currently held by hedge funds and other institutional investors.

Changes to analyst ratings

Several stock analysts have weighed in on the company. B. Riley raised his price target on First Foundation from $21.00 to $23.00 in a Wednesday, July 27 report. 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 report.

First foundation stock down 2.4%

NASDAQ FFWM opened at $21.32 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt ratio of 0.45. The stock’s 50-day moving average is $20.42 and its two-hundred-day moving average is $22.84. The company has a market capitalization of $1.20 billion, a price-earnings ratio of 8.60 and a beta of 1.16. First Foundation Inc. has a 1-year low of $18.31 and a 1-year high of $29.41.

Announcement of the Foundation’s first dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16. Investors of record on Saturday August 6 received a dividend of $0.11. This represents an annualized dividend of $0.44 and a yield of 2.06%. The ex-dividend date was Thursday August 4th. First Foundation’s dividend payout ratio (DPR) is currently 17.74%.

First Foundation Company Profile

(Get a rating)

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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