JPMorgan Chase & Co. Has $2.38 Million Holdings in First Foundation Inc. $FFWM

Key Points

• JPMorgan Chase boosted its Q3 position in First Foundation by 633.3%, buying an additional 368,527 shares to hold 426,714 shares (about $2.38 million and ~0.51% of the company).
• Analysts are mixed but slightly positive: the consensus rating is Moderate Buy with an average price target of $6.58 (ratings: 1 Strong Buy, 2 Buy, 2 Hold, 1 Sell).
• Fundamentals show strain — First Foundation has a market cap of ~$489M, a negative P/E (-3.12) after missing quarterly EPS (loss of $0.04 vs. $0.02 expected) and a negative net margin of 26.37%.

JPMorgan Chase & Co. lifted its position in shares of First Foundation Inc. (NYSE:FFWM - Free Report) by 633.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 426,714 shares of the company's stock after buying an additional 368,527 shares during the quarter. JPMorgan Chase & Co. owned about 0.51% of First Foundation worth $2,377,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Numerai GP LLC acquired a new stake in shares of First Foundation during the third quarter worth $352,000. Maltese Capital Management LLC increased its position in shares of First Foundation by 5.4% during the third quarter. Maltese Capital Management LLC now owns 2,330,149 shares of the company's stock worth $12,979,000 after buying an additional 118,949 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of First Foundation during the third quarter worth $68,000. Millennium Management LLC acquired a new stake in shares of First Foundation during the third quarter worth $4,455,000. Finally, Bank of America Corp DE increased its position in shares of First Foundation by 47.7% during the third quarter. Bank of America Corp DE now owns 368,845 shares of the company's stock worth $2,054,000 after buying an additional 119,118 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson cut shares of First Foundation from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Weiss Ratings restated a "sell (d-)" rating on shares of First Foundation in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, First Foundation currently has an average rating of "Moderate Buy" and a consensus target price of $6.58.

First Foundation Price Performance

First Foundation stock opened at $5.90 on Tuesday. First Foundation Inc. has a 1-year low of $4.41 and a 1-year high of $6.72. The firm has a market capitalization of $489.29 million, a price-to-earnings ratio of -3.12 and a beta of 0.88. The firm's fifty day moving average price is $6.02 and its two-hundred day moving average price is $5.83. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.73.

First Foundation (NYSE:FFWM - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). First Foundation had a negative net margin of 26.37% and a positive return on equity of 1.09%. The business had revenue of $48.36 million during 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.

Want to see what other hedge funds are holding FFWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Foundation Inc. (NYSE:FFWM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.