First Foundation Inc. (FFWM) Chairman Sells $117,640.00 in Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 6,800 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.30, for a total value of $117,640.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $346,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
First Foundation Inc. (NASDAQ FFWM) traded down 0.75% during trading on Wednesday, hitting $17.12. The stock had a trading volume of 79,978 shares. First Foundation Inc. has a 1-year low of $11.64 and a 1-year high of $18.16. The firm’s 50-day moving average price is $16.92 and its 200-day moving average price is $16.12. The stock has a market cap of $590.01 million, a PE ratio of 18.45 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. First Foundation had a return on equity of 10.82% and a net margin of 20.14%. The business had revenue of $37.59 million during the quarter, compared to analyst estimates of $36.38 million. On average, equities research analysts predict that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of First Foundation by 128.1% in the first quarter. Wells Fargo & Company MN now owns 81,240 shares of the bank’s stock valued at $1,260,000 after buying an additional 45,620 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of First Foundation by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock valued at $4,763,000 after buying an additional 22,616 shares in the last quarter. American International Group Inc. raised its stake in shares of First Foundation by 114.2% in the first quarter. American International Group Inc. now owns 16,256 shares of the bank’s stock valued at $252,000 after buying an additional 8,668 shares in the last quarter. Northpointe Capital LLC raised its stake in shares of First Foundation by 142.1% in the first quarter. Northpointe Capital LLC now owns 238,990 shares of the bank’s stock valued at $3,707,000 after buying an additional 140,274 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of First Foundation by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock valued at $627,000 after buying an additional 872 shares in the last quarter. Institutional investors and hedge funds own 50.97% of the company’s stock.
A number of research firms have recently weighed in on FFWM. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. FBR & Co set a $21.00 price target on First Foundation and gave the stock a “buy” rating in a report on Monday, July 17th. TheStreet raised First Foundation from a “d” rating to a “c-” rating in a report on Wednesday, July 26th. BidaskClub cut First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $19.13.
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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