Ulrich E. Keller, Jr. Sells 13,600 Shares of First Foundation Inc. (NASDAQ:FFWM) Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $17.12, for a total transaction of $232,832.00. Following the completion of the sale, the chairman now owns 20,000 shares in the company, valued at approximately $342,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
First Foundation Inc. (FFWM) traded up 2.48% during mid-day trading on Monday, reaching $17.33. 58,901 shares of the company traded hands. The firm has a market capitalization of $597.24 million, a price-to-earnings ratio of 18.67 and a beta of 0.65. The stock’s 50 day moving average price is $16.86 and its 200 day moving average price is $16.09. First Foundation Inc. has a 52 week low of $11.64 and a 52 week high of $18.16.
First Foundation (NASDAQ:FFWM) last posted 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 business had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $36.38 million. Equities analysts forecast that First Foundation Inc. will post $0.94 EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC boosted its position in First Foundation by 3.7% in 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 during the period. OxFORD Asset Management LLP boosted its position in First Foundation by 5.0% in the second quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock worth $265,000 after buying an additional 772 shares during the period. Teachers Advisors LLC boosted its position in 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 during the period. Nationwide Fund Advisors boosted its position in First Foundation by 8.3% in the second quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock worth $319,000 after buying an additional 1,498 shares during the period. Finally, Voya Investment Management LLC boosted its position in First Foundation by 9.0% in the second quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock worth $349,000 after buying an additional 1,749 shares during the period. 50.97% of the stock is currently owned by institutional investors and hedge funds.
FFWM has been the topic of several analyst reports. Piper Jaffray Companies initiated coverage on shares of First Foundation in a research report on Friday, May 12th. They set a “neutral” rating and a $18.00 price target on the stock. FBR & Co set a $21.00 price target on shares of First Foundation and gave the company a “buy” rating in a research report on Monday, July 17th. TheStreet upgraded shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. First Foundation currently has a consensus 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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