First Foundation Inc. (NASDAQ:FFWM) Upgraded by TheStreet to “C-“
Several other brokerages also recently weighed in on FFWM. BidaskClub downgraded shares of First Foundation from a buy rating to a hold rating in a report on Monday, July 24th. FBR & Co set a $21.00 price target on shares of First Foundation and gave the company a buy rating in a report on Monday, July 17th. Zacks Investment Research raised shares of First Foundation from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Thursday, June 29th. DA Davidson reaffirmed a buy rating and set a $19.50 price target on shares of First Foundation in a report on Monday, June 19th. Finally, Piper Jaffray Companies assumed coverage on shares of First Foundation in a report on Friday, May 12th. They set a neutral rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Foundation currently has an average rating of Buy and a consensus target price of $19.13.
Shares of First Foundation (NASDAQ FFWM) opened at 17.38 on Wednesday. The stock has a market capitalization of $593.58 million, a PE ratio of 18.33 and a beta of 0.64. The firm has a 50-day moving average of $16.54 and a 200 day moving average of $15.83. First Foundation has a 1-year low of $11.15 and a 1-year high of $18.16.
First Foundation (NASDAQ:FFWM) last announced its 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 net margin of 20.14% and a return on equity of 11.09%. The company had revenue of $37.59 million during the quarter, compared to analyst estimates of $36.38 million. Analysts predict that First Foundation will post $0.89 EPS for the current year.
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In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of First Foundation stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $16.38, for a total transaction of $163,800.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $327,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Michel sold 30,000 shares of First Foundation stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the transaction, the chief financial officer now directly owns 83,291 shares in the company, valued at approximately $1,371,802.77. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $809,800 in the last ninety days. Insiders own 22.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust increased its position in First Foundation by 100.0% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 284,074 shares of the bank’s stock valued at $4,406,000 after buying an additional 142,037 shares during the period. Eidelman Virant Capital increased its position in First Foundation by 100.0% in the first quarter. Eidelman Virant Capital now owns 50,550 shares of the bank’s stock valued at $784,000 after buying an additional 25,275 shares during the period. Russell Investments Group Ltd. increased its position in First Foundation by 8.0% in the first 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. Northpointe Capital LLC increased its position in First Foundation by 142.1% in the first quarter. Northpointe Capital LLC now owns 238,990 shares of the bank’s stock valued at $3,707,000 after buying an additional 140,274 shares during the period. Finally, Nationwide Fund Advisors increased its position in 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 period. 51.17% of the stock is currently owned by hedge funds and other institutional investors.
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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