First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.47, for a total transaction of $131,760.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $329,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
First Foundation Inc. (NASDAQ:FFWM) opened at 16.97 on Friday. First Foundation Inc. has a 12 month low of $11.64 and a 12 month high of $18.16. The company’s 50-day moving average is $16.95 and its 200 day moving average is $16.24. The firm has a market cap of $584.84 million, a price-to-earnings ratio of 18.29 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $37.59 million during 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%. On average, equities research analysts predict that First Foundation Inc. will post $0.94 earnings per share for the current year.
FFWM has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. FBR & Co raised shares of First Foundation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, June 22nd. TheStreet raised shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.13.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of First Foundation by 101.4% in 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 in the last quarter. Bank of Montreal Can purchased a new stake in shares of First Foundation in the first quarter worth approximately $138,000. Alliancebernstein L.P. purchased a new stake in shares of First Foundation in the first quarter worth approximately $192,000. Hollencrest Securities LLC purchased a new stake in shares of First Foundation in the second quarter worth approximately $207,000. Finally, Citadel Advisors LLC lifted its position in shares of First Foundation by 3.7% in 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 in the last quarter. 52.33% of the stock is owned by institutional investors and hedge funds.
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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