First Foundation Inc. (FFWM) CFO John Michel Sells 10,400 Shares of Stock
First Foundation Inc. (NASDAQ:FFWM) CFO John Michel sold 10,400 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $16.80, for a total value of $174,720.00. Following the transaction, the chief financial officer now directly owns 83,691 shares of the company’s stock, valued at approximately $1,406,008.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of First Foundation Inc. (NASDAQ:FFWM) traded up 0.25% on Friday, reaching $16.21. The company had a trading volume of 40,713 shares. First Foundation Inc. has a one year low of $11.64 and a one year high of $18.16. The company has a 50-day moving average price of $16.99 and a 200-day moving average price of $16.24. The firm has a market cap of $558.65 million, a P/E ratio of 17.47 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last released its earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The company had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $36.38 million. First Foundation had a return on equity of 10.82% and a net margin of 20.14%. On average, analysts expect that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
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Several research analysts recently weighed in on FFWM shares. Piper Jaffray Companies started coverage on First Foundation in a research note on Friday, May 12th. They set a “neutral” rating and a $18.00 target price for the company. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. DA Davidson reaffirmed a “buy” rating and set a $19.50 target price on shares of First Foundation in a research note on Monday, June 19th. FBR & Co raised First Foundation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. First Foundation currently has an average rating of “Buy” and a consensus price target of $19.13.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of First Foundation by 128.1% in 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 during the period. Russell Investments Group Ltd. increased its stake in shares of First Foundation by 8.0% in 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 during the period. American International Group Inc. increased its stake in shares of First Foundation by 114.2% in the 1st quarter. American International Group Inc. now owns 16,256 shares of the bank’s stock valued at $252,000 after buying an additional 8,668 shares during the period. Teachers Advisors LLC increased its stake in shares of First Foundation by 4.1% in 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 during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of First Foundation in the 1st quarter valued at $306,000. 52.33% of the stock is owned by institutional investors.
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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