DA Davidson Reiterates Buy Rating for First Foundation Inc. (FFWM)
First Foundation Inc. (NASDAQ:FFWM)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a note issued to investors on Monday. They currently have a $19.50 price objective on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 20.59% from the stock’s current price.
FFWM has been the topic of several other research reports. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. FBR & Co increased their target price on First Foundation from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Tuesday, April 25th. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Piper Jaffray Companies assumed coverage on First Foundation in a research report on Friday, May 12th. They set a “neutral” rating and a $18.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.38.
Shares of First Foundation (NASDAQ FFWM) traded down 0.74% on Monday, reaching $16.17. The company’s stock had a trading volume of 52,977 shares. The company has a market cap of $539.14 million, a price-to-earnings ratio of 21.03 and a beta of 0.64. The stock has a 50-day moving average of $16.04 and a 200 day moving average of $15.38. First Foundation has a 52-week low of $10.01 and a 52-week high of $17.26.
First Foundation (NASDAQ:FFWM) last announced its earnings results on Monday, April 24th. The bank reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $33.84 million for the quarter, compared to analysts’ expectations of $33.53 million. First Foundation had a return on equity of 8.99% and a net margin of 17.72%. On average, equities research analysts forecast that First Foundation will post $0.88 earnings per share for the current year.
In other news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $314,200. The transaction was disclosed in a legal 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 firm’s stock in a transaction on Friday, March 31st. The stock was 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 directly owns 20,000 shares of the company’s stock, valued at approximately $310,200. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $1,196,850 in the last ninety days. Insiders own 22.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of FFWM. Citadel Advisors LLC boosted its stake in First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock worth $217,000 after buying an additional 496 shares during the last quarter. Teachers Advisors LLC boosted its stake in First Foundation by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock worth $627,000 after buying an additional 872 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in First Foundation by 6.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,345 shares of the bank’s stock worth $437,000 after buying an additional 888 shares during the last quarter. Brown Advisory Inc. boosted its stake in First Foundation by 18.5% in the fourth quarter. Brown Advisory Inc. now owns 12,165 shares of the bank’s stock worth $347,000 after buying an additional 1,900 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after buying an additional 4,112 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.
First Foundation Company Profile
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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