BidaskClub lowered shares of First Foundation Inc. (NASDAQ:FFWM) from a buy rating to a hold rating in a research note released on Monday, July 24th.
Other equities research analysts also recently issued reports about the stock. DA Davidson reiterated a buy rating and set a $19.50 price target on shares of First Foundation in a report on Monday, June 19th. ValuEngine upgraded shares of First Foundation from a hold rating to a buy rating in a report 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 price target for the company in a report on Tuesday, April 25th. FBR & Co set a $21.00 price target on shares of First Foundation and gave the stock a buy rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies started coverage on shares of First Foundation in a report on Friday, May 12th. They set a neutral rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $19.13.
Shares of First Foundation (NASDAQ:FFWM) opened at 16.62 on Monday. The stock has a market cap of $572.78 million, a PE ratio of 17.91 and a beta of 0.65. The stock has a 50 day moving average of $16.92 and a 200 day moving average of $16.14. First Foundation has a 1-year low of $11.64 and a 1-year high of $18.16.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. Equities research analysts forecast that First Foundation will post $0.94 EPS for the current year.
In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of First Foundation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.28, for a total transaction of $235,008.00. Following the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $345,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ulrich E. Keller, Jr. sold 6,800 shares of First Foundation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $17.30, for a total transaction of $117,640.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $346,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock valued at $1,203,940. 18.50% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in 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 position in First Foundation during the first quarter valued at approximately $138,000. Alliancebernstein L.P. purchased a new position in First Foundation during the first quarter valued at approximately $192,000. Hollencrest Securities LLC purchased a new position in First Foundation during the second quarter valued at approximately $207,000. Finally, Citadel Advisors LLC raised 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 valued at $217,000 after buying an additional 496 shares in the last quarter. 50.97% 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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