First Foundation Inc. (NASDAQ:FFWM) has been given an average rating of “Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.50.

A number of analysts have recently issued reports on FFWM shares. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. FBR & Co raised First Foundation from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $21.00 in a research report on Thursday, June 22nd. TheStreet raised First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.

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In other news, CFO John Michel sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $16.58, for a total transaction of $497,400.00. Following the transaction, the chief financial officer now owns 93,291 shares in the company, valued at $1,546,764.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $16.38, for a total value of $163,800.00. Following the transaction, the chairman now owns 20,000 shares in the company, valued at approximately $327,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,600 shares of company stock worth $2,918,822. 18.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FFWM. Legal & General Group Plc increased its stake in shares of First Foundation by 101.4% during the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after purchasing an additional 4,112 shares during the period. Bank of Montreal Can bought a new position in shares of First Foundation during the first quarter worth approximately $138,000. Alliancebernstein L.P. bought a new position in shares of First Foundation during the first quarter worth approximately $192,000. Hollencrest Securities LLC bought a new position in shares of First Foundation during the second quarter worth approximately $207,000. Finally, Citadel Advisors LLC increased its stake in shares of First Foundation by 3.7% during the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock worth $217,000 after purchasing an additional 496 shares during the period. Institutional investors own 52.33% of the company’s stock.

Shares of First Foundation (NASDAQ FFWM) traded down 0.29% on Tuesday, reaching $16.96. The company’s stock had a trading volume of 54,150 shares. The company’s 50 day moving average is $16.97 and its 200-day moving average is $16.24. First Foundation has a 1-year low of $11.64 and a 1-year high of $18.16. The firm has a market cap of $584.49 million, a price-to-earnings ratio of 18.28 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 (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $36.38 million. Equities research analysts expect that First Foundation will post $0.94 EPS for the current year.

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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