First Foundation Inc. (FFWM) CFO John Michel Sells 10,400 Shares
First Foundation Inc. (NASDAQ:FFWM) CFO John Michel sold 10,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $16.80, for a total value of $174,720.00. Following the completion of the sale, the chief financial officer now owns 83,691 shares of the company’s stock, valued at $1,406,008.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
First Foundation Inc. (NASDAQ:FFWM) traded down 2.74% during midday trading on Thursday, hitting $16.33. The stock had a trading volume of 38,891 shares. First Foundation Inc. has a 12-month low of $11.64 and a 12-month high of $18.16. The stock has a 50-day moving average price of $17.01 and a 200 day moving average price of $16.24. The firm has a market cap of $562.78 million, a P/E ratio of 17.60 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last issued 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 firm had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million. On average, equities analysts anticipate that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of First Foundation by 128.1% during the 1st quarter. Wells Fargo & Company MN now owns 81,240 shares of the bank’s stock worth $1,260,000 after purchasing an additional 45,620 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of First Foundation by 8.0% during the 1st quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock worth $4,763,000 after purchasing an additional 22,616 shares during the last quarter. American International Group Inc. raised its position in shares of First Foundation by 114.2% during the 1st quarter. American International Group Inc. now owns 16,256 shares of the bank’s stock worth $252,000 after purchasing an additional 8,668 shares during the last quarter. Teachers Advisors LLC raised its position in shares of First Foundation by 4.1% during the 4th quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock worth $627,000 after purchasing an additional 872 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of First Foundation during the 1st quarter worth approximately $306,000. Hedge funds and other institutional investors own 52.33% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $19.50 price target on shares of First Foundation in a research report on Monday, June 19th. ValuEngine upgraded First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. FBR & Co set a $21.00 price target on First Foundation and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered First Foundation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price 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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