First Foundation Inc (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 30,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $16.39, for a total transaction of $491,700.00. Following the sale, the chairman now directly owns 20,000 shares in the company, valued at $327,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
First Foundation stock opened at $16.20 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.00 and a current ratio of 1.13. First Foundation Inc has a 12 month low of $14.00 and a 12 month high of $20.43. The firm has a market cap of $732.99 million, a PE ratio of 15.15, a P/E/G ratio of 2.19 and a beta of 0.47.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. First Foundation had a net margin of 13.75% and a return on equity of 10.12%. The business had revenue of $54.83 million for the quarter, compared to analysts’ expectations of $49.89 million. As a group, equities analysts expect that First Foundation Inc will post 1.08 earnings per share for the current fiscal year.
Several analysts have issued reports on the stock. TheStreet raised shares of First Foundation from a “c+” rating to a “b-” rating in a research note on Thursday, November 1st. Raymond James cut their target price on shares of First Foundation from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, September 21st. Sandler O’Neill downgraded shares of First Foundation from a “buy” rating to a “hold” rating and set a $21.50 target price on the stock. in a research note on Tuesday, July 31st. ValuEngine raised shares of First Foundation from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. Finally, BidaskClub upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.90.
Institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of First Foundation by 26.1% during the 2nd quarter. FMR LLC now owns 3,968,414 shares of the bank’s stock valued at $73,574,000 after acquiring an additional 820,394 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings 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 valued at $423,000 after acquiring an additional 4,310 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of First Foundation by 22.3% during the 2nd quarter. First Trust Advisors LP now owns 92,092 shares of the bank’s stock valued at $1,707,000 after acquiring an additional 16,783 shares in the last quarter. Raymond James & Associates boosted its holdings in First Foundation by 242.4% in the second quarter. Raymond James & Associates now owns 90,518 shares of the bank’s stock worth $1,678,000 after purchasing an additional 64,080 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in First Foundation in the second quarter worth $3,203,000. Institutional investors and hedge funds own 55.65% of the company’s stock.
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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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