First Foundation Inc. (FFWM) Chairman Ulrich E. Keller, Jr. Sells 13,600 Shares
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.28, for a total transaction of $235,008.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $345,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
First Foundation Inc. (NASDAQ:FFWM) traded down 0.75% during mid-day trading on Wednesday, hitting $17.12. 79,978 shares of the stock traded hands. The firm’s 50-day moving average price is $16.92 and its 200-day moving average price is $16.12. First Foundation Inc. has a 52 week low of $11.64 and a 52 week high of $18.16. The firm has a market cap of $590.01 million, a P/E ratio of 18.45 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.07. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. The company had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million. On average, equities analysts forecast that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
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A number of research analysts have commented on the stock. FBR & Co raised their price target on shares of First Foundation from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 25th. DA Davidson restated a “buy” rating and set a $19.50 price target on shares of First Foundation in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, April 25th. BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. First Foundation presently has a consensus rating of “Buy” and an average target price of $19.13.
A number of institutional investors have recently modified their holdings of FFWM. State Street Corp increased its position in shares of First Foundation by 7.4% in the fourth quarter. State Street Corp now owns 198,590 shares of the bank’s stock valued at $5,661,000 after buying an additional 13,667 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $3,247,000 after buying an additional 74,475 shares during the last quarter. Teachers Advisors LLC increased its position 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 valued at $627,000 after buying an additional 872 shares during the last quarter. Bank of Montreal Can bought a new position in shares of First Foundation during the first quarter valued at approximately $138,000. Finally, Nationwide Fund Advisors increased its position 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 valued at $278,000 after buying an additional 8,541 shares during the last quarter. 50.97% of the stock is owned by institutional investors and hedge funds.
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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