First Foundation Inc. (NASDAQ:FFWM) - Equities researchers at DA Davidson raised their Q3 2017 EPS estimates for shares of First Foundation in a research report issued on Thursday. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $0.26 for the quarter, up from their prior forecast of $0.25. DA Davidson currently has a “Buy” rating and a $19.50 price objective on the stock. DA Davidson also issued estimates for First Foundation’s Q4 2017 earnings at $0.19 EPS and FY2018 earnings at $1.13 EPS.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. First Foundation had a net margin of 17.72% and a return on equity of 8.99%. The business had revenue of $37.59 million during the quarter, compared to analyst estimates of $36.38 million.
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FFWM has been the topic of several other reports. Zacks Investment Research downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Piper Jaffray Companies initiated coverage on shares of First Foundation in a research report on Friday, May 12th. They issued a “neutral” rating and a $18.00 price target on the stock. FBR & Co upgraded shares of First Foundation from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Thursday, June 22nd. BidaskClub downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday. Finally, ValuEngine upgraded shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.13.
First Foundation (FFWM) opened at 17.59 on Friday. The stock has a market capitalization of $586.49 million, a price-to-earnings ratio of 22.87 and a beta of 0.64. First Foundation has a 1-year low of $11.15 and a 1-year high of $18.16. The company has a 50-day moving average of $16.50 and a 200-day moving average of $15.81.
In other news, CFO John Michel sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 83,291 shares in the company, valued at approximately $1,371,802.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the sale, the chairman now owns 20,000 shares in the company, valued at $303,800. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $809,800 over the last 90 days. Insiders own 22.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after buying an additional 4,112 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of First Foundation during the first quarter valued at approximately $138,000. Alliancebernstein L.P. purchased a new stake in shares of First Foundation during the first quarter valued at approximately $192,000. Hollencrest Securities LLC purchased a new stake in shares of First Foundation during the second quarter valued at approximately $207,000. Finally, Citadel Advisors LLC increased its stake in shares of First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock valued at $217,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 51.17% of the company’s stock.
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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