First Foundation Inc. (FFWM) Chairman Sells $232,832.00 in Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 13,600 shares of First Foundation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $17.12, for a total transaction of $232,832.00. Following the completion of the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $342,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of First Foundation Inc. (FFWM) traded up 2.48% on Monday, hitting $17.33. 58,901 shares of the stock traded hands. First Foundation Inc. has a one year low of $11.64 and a one year high of $18.16. The stock has a 50 day moving average of $16.86 and a 200 day moving average of $16.09. The company has a market cap of $597.24 million, a PE ratio of 18.67 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.07. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. Equities analysts anticipate that First Foundation Inc. will post $0.94 earnings per share for the current year.
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A number of research firms have commented on FFWM. Zacks Investment Research downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. FBR & Co set a $21.00 target price on shares of First Foundation and gave the stock a “buy” rating in a research report on Monday, July 17th. TheStreet raised shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. BidaskClub downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.13.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in First Foundation by 2.4% in the second quarter. FMR LLC now owns 1,529,878 shares of the bank’s stock worth $25,135,000 after buying an additional 36,484 shares during the last quarter. Mendon Capital Advisors Corp raised its stake in 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 during the last quarter. Vanguard Group Inc. raised its stake in First Foundation by 5.7% in the second quarter. Vanguard Group Inc. now owns 1,152,829 shares of the bank’s stock worth $18,941,000 after buying an additional 62,230 shares during the last quarter. Boston Partners raised its stake in 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 during the last quarter. Finally, Banc Funds Co. LLC raised its stake in First Foundation by 5.3% in the second quarter. Banc Funds Co. LLC now owns 814,398 shares of the bank’s stock worth $13,381,000 after buying an additional 41,000 shares during the last quarter. Hedge funds and other institutional investors own 50.97% of the company’s stock.
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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