First Foundation (NASDAQ:FFWM) Director Jacob Sonenshine sold 12,500 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $19.37, for a total transaction of $242,125.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
First Foundation traded up $0.23, reaching $19.39, during midday trading on Tuesday, according to Marketbeat.com. The company had a trading volume of 92,400 shares, compared to its average volume of 147,197. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 1.87. The stock has a market cap of $732.72 million, a price-to-earnings ratio of 19.99, a PEG ratio of 2.25 and a beta of 0.71. First Foundation has a 12-month low of $15.06 and a 12-month high of $19.84.
First Foundation (NASDAQ:FFWM) last released its earnings results on Tuesday, April 24th. The bank reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). The company had revenue of $43.25 million during the quarter, compared to analysts’ expectations of $43.15 million. First Foundation had a net margin of 16.05% and a return on equity of 10.22%. sell-side analysts anticipate that First Foundation will post 1.19 earnings per share for the current year.
Several research analysts recently weighed in on FFWM shares. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 9th. BidaskClub upgraded shares of First Foundation from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 24th. B. Riley restated a “buy” rating and set a $22.00 price target (down from $23.00) on shares of First Foundation in a report on Thursday, February 1st. TheStreet upgraded shares of First Foundation from a “c+” rating to a “b” rating in a report on Monday, March 19th. Finally, Sandler O’Neill restated a “buy” rating on shares of First Foundation in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.70.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. boosted its stake in First Foundation by 6.0% in the fourth quarter. Basswood Capital Management L.L.C. now owns 2,072,115 shares of the bank’s stock valued at $38,417,000 after acquiring an additional 118,108 shares during the last quarter. BlackRock Inc. boosted its stake in First Foundation by 0.6% in the first quarter. BlackRock Inc. now owns 1,621,607 shares of the bank’s stock valued at $30,063,000 after acquiring an additional 9,902 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in First Foundation by 23.6% in the first quarter. Russell Investments Group Ltd. now owns 1,213,488 shares of the bank’s stock valued at $22,499,000 after acquiring an additional 231,698 shares during the last quarter. Banc Funds Co. LLC boosted its stake in First Foundation by 25.2% in the fourth quarter. Banc Funds Co. LLC now owns 1,125,099 shares of the bank’s stock valued at $20,859,000 after acquiring an additional 226,326 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in First Foundation by 2.7% in the fourth quarter. Deutsche Bank AG now owns 837,316 shares of the bank’s stock valued at $15,521,000 after acquiring an additional 21,752 shares during the last quarter. Hedge funds and other institutional investors own 60.43% of the company’s stock.
About First Foundation
First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.
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