Other equities analysts have also issued reports about the stock. FBR & Co set a $21.00 price objective on shares of First Foundation and gave the company a buy rating in a research report on Monday, July 17th. Zacks Investment Research raised First Foundation from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Friday, October 27th. ValuEngine downgraded First Foundation from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, BidaskClub downgraded First Foundation from a buy rating to a hold rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Foundation presently has a consensus rating of Buy and an average price target of $19.88.
Shares of First Foundation (NASDAQ:FFWM) opened at $17.55 on Tuesday. The stock has a market cap of $618.31, a PE ratio of 19.08, a PEG ratio of 2.63 and a beta of 0.67. First Foundation has a 1 year low of $12.02 and a 1 year high of $19.84. 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 announced its earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. First Foundation had a net margin of 19.62% and a return on equity of 10.32%. The business had revenue of $38.30 million for the quarter, compared to analyst estimates of $38.83 million. research analysts expect that First Foundation will post 0.96 EPS for the current fiscal year.
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In related news, Chairman Ulrich E. Keller, Jr. sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $16.47, for a total transaction of $131,760.00. Following the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $329,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.28, for a total value of $235,008.00. Following the sale, the chairman now directly owns 20,000 shares in the company, valued at $345,600. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $2,522,190 in the last 90 days. 18.50% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FFWM. Citadel Advisors LLC increased its holdings in First Foundation by 3.7% during the 1st quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock valued at $217,000 after purchasing an additional 496 shares in the last quarter. OxFORD Asset Management LLP increased its holdings in First Foundation by 5.0% in the second quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock valued at $265,000 after purchasing an additional 772 shares during the period. The Manufacturers Life Insurance Company increased its holdings in First Foundation by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock valued at $362,000 after purchasing an additional 1,165 shares during the period. Nationwide Fund Advisors increased its holdings in First Foundation by 8.3% in the second quarter. Nationwide Fund Advisors now owns 19,441 shares of the bank’s stock valued at $319,000 after purchasing an additional 1,498 shares during the period. Finally, Voya Investment Management LLC increased its holdings in First Foundation by 9.0% in the second quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock valued at $349,000 after purchasing an additional 1,749 shares during the period. Hedge funds and other institutional investors own 52.07% of the company’s stock.
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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