Insider Selling: First Foundation Inc. (FFWM) Chairman Sells 1,200 Shares of Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $17.00, for a total transaction of $20,400.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $340,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of First Foundation Inc. (FFWM) traded down 3.28% on Thursday, reaching $16.24. 39,683 shares of the company were exchanged. The stock has a market capitalization of $559.68 million, a PE ratio of 17.50 and a beta of 0.65. First Foundation Inc. has a 12-month low of $11.64 and a 12-month high of $18.16. The firm has a 50 day moving average price of $17.01 and a 200-day moving average price of $16.24.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The company had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. On average, analysts predict that First Foundation Inc. will post $0.94 EPS for the current fiscal year.
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Several research analysts have recently commented on FFWM shares. Zacks Investment Research cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Piper Jaffray Companies started coverage on shares of First Foundation in a report on Friday, May 12th. They set a “neutral” rating and a $18.00 target price on the stock. ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. DA Davidson reaffirmed a “buy” rating and set a $19.50 target price on shares of First Foundation in a report on Monday, June 19th. Finally, FBR & Co raised shares of First Foundation from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $21.00 in a report on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. First Foundation presently has a consensus rating of “Buy” and a consensus target price of $19.13.
Several hedge funds have recently made changes to their positions in FFWM. Teachers Advisors LLC lifted its stake 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 valued at $627,000 after buying an additional 872 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of First Foundation during the 1st quarter valued at approximately $138,000. Nationwide Fund Advisors lifted its stake in shares of First Foundation by 90.8% during the 1st quarter. Nationwide Fund Advisors now owns 17,943 shares of the bank’s stock valued at $278,000 after buying an additional 8,541 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 valued at $4,763,000 after buying an additional 22,616 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake 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 valued at $1,260,000 after buying an additional 45,620 shares in the last quarter. Institutional investors own 52.33% 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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