Insider Selling: First Foundation Inc. (FFWM) Chairman Sells $18,683.00 in Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 1,099 shares of First Foundation stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $17.00, for a total value of $18,683.00. Following the completion of the sale, the chairman now directly owns 20,000 shares in the company, valued at approximately $340,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
First Foundation Inc. (NASDAQ:FFWM) traded up 1.86% on Thursday, hitting $16.96. The company’s stock had a trading volume of 9,742 shares. The firm has a 50 day moving average of $16.95 and a 200-day moving average of $16.21. First Foundation Inc. has a 12 month low of $11.64 and a 12 month high of $18.16. The stock has a market cap of $584.49 million, a PE ratio of 18.28 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $36.38 million. On average, analysts expect that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of First Foundation by 188.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 113,919 shares of the bank’s stock worth $3,247,000 after buying an additional 74,475 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of First Foundation by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock worth $627,000 after buying an additional 872 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of First Foundation during the first quarter worth approximately $138,000. Nationwide Fund Advisors boosted its stake in shares of First Foundation by 90.8% in the first quarter. Nationwide Fund Advisors now owns 17,943 shares of the bank’s stock worth $278,000 after buying an additional 8,541 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of First Foundation by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock worth $4,763,000 after buying an additional 22,616 shares in the last quarter. 52.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on FFWM. Zacks Investment Research lowered First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. TheStreet raised First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. 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 target price on First Foundation and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, DA Davidson reissued a “buy” rating and issued a $19.50 target price on shares of First Foundation in a research report on Monday, June 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus 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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