First Foundation Inc. (FFWM) Sees Strong Trading Volume
First Foundation Inc. (NASDAQ:FFWM) saw an uptick in trading volume on Thursday . 249,905 shares were traded during trading, an increase of 78% from the previous session’s volume of 140,633 shares.The stock last traded at $21.44 and had previously closed at $21.18.
Several research firms have recently weighed in on FFWM. Zacks Investment Research cut shares of First Foundation from a “hold” rating to a “strong sell” rating in a research report on Monday, June 27th. FBR & Co initiated coverage on shares of First Foundation in a research report on Friday, July 1st. They issued an “outperform” rating and a $26.00 target price on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of First Foundation in a research report on Wednesday.
The company has a 50-day moving average price of $21.84 and a 200 day moving average price of $22.10. The firm has a market cap of $353.91 million and a P/E ratio of 20.56.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.02. On average, equities analysts forecast that First Foundation Inc. will post $1.38 earnings per share for the current year.
In other news, CFO John Michel purchased 1,500 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was acquired at an average cost of $21.41 per share, for a total transaction of $32,115.00. Following the completion of the transaction, the chief financial officer now directly owns 19,255 shares in the company, valued at approximately $412,249.55. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Victoria Collins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $21.25, for a total transaction of $106,250.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in First Foundation stock. Russell Frank Co boosted its position in First Foundation Inc. (NASDAQ:FFWM) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,006 shares of the company’s stock after buying an additional 9,928 shares during the period. Russell Frank Co owned approximately 0.69% of First Foundation worth $2,599,000 at the end of the most recent reporting period.
First Foundation Inc is a financial services and bank holding company. The Company provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. It conducts its operations through its wholly owned subsidiaries: First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a wholly owned subsidiary of FFB.
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