First Foundation Inc. (FFWM) Chairman Sells $269,667.00 in Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 16,245 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.60, for a total transaction of $269,667.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $332,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of First Foundation Inc. (FFWM) opened at 16.97 on Friday. The company has a market cap of $584.84 million, a price-to-earnings ratio of 18.29 and a beta of 0.65. First Foundation Inc. has a one year low of $11.64 and a one year high of $18.16. The firm has a 50-day moving average of $16.95 and a 200 day moving average of $16.24.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million. Equities research analysts anticipate that First Foundation Inc. will post $0.94 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of FFWM. Legal & General Group Plc lifted its holdings 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 buying an additional 4,112 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of First Foundation during the first quarter worth $138,000. Alliancebernstein L.P. acquired a new stake in shares of First Foundation during the first quarter worth $192,000. Hollencrest Securities LLC acquired a new stake in shares of First Foundation during the second quarter worth $207,000. Finally, Citadel Advisors LLC lifted its holdings 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 buying an additional 496 shares in the last quarter. 52.33% of the stock is owned by institutional investors.
FFWM has been the subject of several research analyst reports. DA Davidson reiterated a “buy” rating and set a $19.50 target price on shares of First Foundation in a research note on Monday, June 19th. ValuEngine upgraded shares of First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of 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. FBR & Co set a $21.00 target price on shares of First Foundation and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, TheStreet upgraded shares of First Foundation from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.13.
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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