First Foundation Inc (FFWM) Short Interest Update
First Foundation Inc (NASDAQ:FFWM) saw a large growth in short interest in the month of April. As of April 28th, there was short interest totalling 217,289 shares, a growth of 15.7% from the April 13th total of 187,743 shares. Based on an average trading volume of 85,459 shares, the days-to-cover ratio is presently 2.5 days.
Several research firms recently issued reports on FFWM. Piper Jaffray Companies began coverage on First Foundation in a research note on Friday, May 12th. They issued a “neutral” rating and a $18.00 price target for the company. Zacks Investment Research downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, FBR & Co boosted their price target on First Foundation from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Tuesday, April 25th.
First Foundation (NASDAQ:FFWM) traded up 1.13% during mid-day trading on Monday, reaching $16.12. The company had a trading volume of 43,556 shares. The stock has a 50-day moving average of $15.82 and a 200 day moving average of $14.98. First Foundation has a 12-month low of $10.01 and a 12-month high of $17.26. The company has a market capitalization of $537.47 million, a price-to-earnings ratio of 20.96 and a beta of 0.53.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Monday, April 24th. The bank reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. First Foundation had a net margin of 17.24% and a return on equity of 8.37%. The company had revenue of $33.84 million for the quarter, compared to the consensus estimate of $33.53 million. On average, analysts expect that First Foundation will post $0.90 EPS for the current year.
In related news, Director Jacob Sonenshine sold 4,668 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $16.65, for a total value of $77,722.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $15.51, for a total value of $155,100.00. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at $310,200. The disclosure for this sale can be found here. Insiders have sold a total of 80,334 shares of company stock valued at $1,300,468 over the last quarter. 22.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. RMB Capital Management LLC increased its stake in shares of First Foundation by 700.6% in the third quarter. RMB Capital Management LLC now owns 1,230,577 shares of the bank’s stock worth $30,358,000 after buying an additional 1,076,879 shares in the last quarter. FMR LLC increased its stake in shares of First Foundation by 140.1% in the first quarter. FMR LLC now owns 1,493,394 shares of the bank’s stock worth $23,163,000 after buying an additional 871,347 shares in the last quarter. Mendon Capital Advisors Corp increased its stake in shares of First Foundation by 100.2% in the first quarter. Mendon Capital Advisors Corp now owns 1,450,582 shares of the bank’s stock worth $22,499,000 after buying an additional 725,881 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of First Foundation by 110.5% in the first quarter. Vanguard Group Inc. now owns 1,090,599 shares of the bank’s stock worth $16,915,000 after buying an additional 572,520 shares in the last quarter. Finally, Boston Partners increased its stake in shares of First Foundation by 84.6% in the first quarter. Boston Partners now owns 1,031,110 shares of the bank’s stock worth $15,993,000 after buying an additional 472,690 shares in the last quarter. 29.05% of the stock is currently owned by institutional investors.
About First Foundation
First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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