First Foundation Inc (NASDAQ:FFWM) CFO John Michel sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $16.33, for a total transaction of $228,620.00. Following the completion of the transaction, the chief financial officer now directly owns 37,000 shares of the company’s stock, valued at approximately $604,210. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of First Foundation stock traded up $0.03 during trading on Tuesday, hitting $16.39. 5,460 shares of the stock were exchanged, compared to its average volume of 268,671. The stock has a market cap of $727.67 million, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.47. First Foundation Inc has a 12-month low of $14.00 and a 12-month high of $20.43. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 1.53.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $49.89 million. First Foundation had a net margin of 13.75% and a return on equity of 10.12%. As a group, sell-side analysts forecast that First Foundation Inc will post 1.06 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. lifted its position in shares of First Foundation by 378.4% during the 3rd quarter. Teton Advisors Inc. now owns 48,800 shares of the bank’s stock worth $762,000 after purchasing an additional 38,600 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of First Foundation by 10.4% during the 3rd quarter. Victory Capital Management Inc. now owns 87,900 shares of the bank’s stock worth $1,373,000 after purchasing an additional 8,250 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of First Foundation by 18.9% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 27,070 shares of the bank’s stock worth $423,000 after purchasing an additional 4,310 shares during the last quarter. Northern Trust Corp lifted its position in shares of First Foundation by 16.1% during the 2nd quarter. Northern Trust Corp now owns 391,993 shares of the bank’s stock worth $7,267,000 after purchasing an additional 54,371 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of First Foundation during the 2nd quarter worth $5,968,000. 55.65% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on FFWM shares. TheStreet raised shares of First Foundation from a “c+” rating to a “b-” rating in a research report on Thursday, November 1st. B. Riley set a $19.00 price objective on shares of First Foundation and gave the stock a “buy” rating in a research report on Friday, October 12th. Sandler O’Neill cut shares of First Foundation from a “buy” rating to a “hold” rating and set a $21.50 price objective for the company. in a research report on Tuesday, July 31st. Piper Jaffray Companies set a $16.00 price objective on shares of First Foundation and gave the stock a “hold” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research raised shares of First Foundation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.90.
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About First Foundation
First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.
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