Shares of First Foundation Inc (NASDAQ:FFWM) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.63.
A number of analysts have weighed in on the stock. TheStreet lowered shares of First Foundation from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. BidaskClub upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. B. Riley restated a “buy” rating and set a $22.00 price objective (down from $23.00) on shares of First Foundation in a research note on Thursday, February 1st. Piper Jaffray Companies restated a “hold” rating and set a $20.00 price objective on shares of First Foundation in a research note on Tuesday, January 9th. Finally, Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, December 4th.
In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of First Foundation stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the sale, the chairman now directly owns 20,000 shares in the company, valued at $368,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Max Briggs sold 5,305 shares of First Foundation stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.11, for a total transaction of $101,378.55. Following the completion of the sale, the director now owns 6,415 shares of the company’s stock, valued at $122,590.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,305 shares of company stock valued at $664,279. 18.50% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in FFWM. Schwab Charles Investment Management Inc. grew its stake in shares of First Foundation by 29.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,200 shares of the bank’s stock worth $842,000 after acquiring an additional 11,800 shares during the period. Bank of New York Mellon Corp grew its stake in shares of First Foundation by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 129,413 shares of the bank’s stock worth $2,126,000 after acquiring an additional 12,557 shares during the period. Swiss National Bank bought a new stake in shares of First Foundation in the second quarter worth approximately $764,000. JPMorgan Chase & Co. grew its stake in shares of First Foundation by 531.7% in the second quarter. JPMorgan Chase & Co. now owns 112,998 shares of the bank’s stock worth $1,857,000 after acquiring an additional 95,110 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of First Foundation by 54.0% in the second quarter. Alliancebernstein L.P. now owns 19,100 shares of the bank’s stock worth $314,000 after acquiring an additional 6,700 shares during the period. Hedge funds and other institutional investors own 51.08% of the company’s stock.
Shares of First Foundation (FFWM) traded up $0.17 during midday trading on Friday, reaching $18.59. 232,936 shares of the company were exchanged, compared to its average volume of 169,389. First Foundation has a one year low of $14.67 and a one year high of $19.84. The stock has a market cap of $693.47, a PE ratio of 23.53, a P/E/G ratio of 2.04 and a beta of 0.66. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.02 and a current ratio of 1.07.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. First Foundation had a net margin of 15.71% and a return on equity of 10.92%. The company had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $40.94 million. research analysts anticipate that First Foundation will post 1.27 earnings per share for the current year.
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About First Foundation
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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