First Foundation Inc (NASDAQ:FFWM) Director Warren D. Fix sold 16,254 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $18.38, for a total value of $298,748.52. Following the completion of the sale, the director now directly owns 73,234 shares in the company, valued at approximately $1,346,040.92. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of First Foundation Inc (NASDAQ FFWM) traded down $0.39 during midday trading on Thursday, hitting $18.21. The stock had a trading volume of 91,808 shares, compared to its average volume of 169,689. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24. First Foundation Inc has a 1-year low of $14.67 and a 1-year high of $19.84. The firm has a market cap of $641.56, a price-to-earnings ratio of 19.58, a PEG ratio of 2.08 and a beta of 0.66.
First Foundation (NASDAQ:FFWM) last issued its earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. First Foundation had a return on equity of 10.92% and a net margin of 15.71%. The business had revenue of $42.60 million for the quarter, compared to analyst estimates of $40.94 million. sell-side analysts forecast that First Foundation Inc will post 1.27 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of First Foundation by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock worth $362,000 after acquiring an additional 1,165 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of First Foundation by 8.3% during the 2nd quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock worth $319,000 after acquiring an additional 1,498 shares in the last quarter. Voya Investment Management LLC raised its position in shares of First Foundation by 9.0% during the 2nd quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock worth $349,000 after acquiring an additional 1,749 shares in the last quarter. Cadence Capital Management LLC raised its position in shares of First Foundation by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 96,925 shares of the bank’s stock worth $1,734,000 after acquiring an additional 4,661 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of First Foundation by 11.0% during the 2nd quarter. Teachers Advisors LLC now owns 50,495 shares of the bank’s stock worth $830,000 after acquiring an additional 4,993 shares in the last quarter. 53.47% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on FFWM shares. TheStreet raised First Foundation from a “c-” rating to a “b-” rating in a research report on Tuesday, October 31st. Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, October 27th. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target (down previously from $23.00) on shares of First Foundation in a research report on Thursday, February 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 price target on shares of First Foundation in a research report on Tuesday, January 9th. Finally, BidaskClub raised First Foundation from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. First Foundation has an average rating of “Hold” and a consensus target price of $20.70.
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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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