First Foundation Inc. (FFWM) Shares Up 5.3%
First Foundation Inc. (NASDAQ:FFWM) shot up 5.3% during trading on Friday . The company traded as high as $24.85 and last traded at $24.85, with a volume of 59,556 shares trading hands. The stock had previously closed at $23.60.
A number of research firms have commented on FFWM. Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. FBR & Co lifted their target price on First Foundation from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Finally, DA Davidson restated a “buy” rating and issued a $25.00 target price on shares of First Foundation in a research report on Wednesday, July 6th.
The stock’s 50 day moving average is $22.17 and its 200-day moving average is $22.10. The stock has a market cap of $405.66 million and a PE ratio of 26.24.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. Analysts forecast that First Foundation Inc. will post $1.40 earnings per share for the current fiscal year.
In related news, CFO John Michel bought 1,500 shares of the stock in a transaction on Tuesday, June 14th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $32,115.00. Following the acquisition, the chief financial officer now owns 19,255 shares in the company, valued at $412,249.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victoria Collins sold 5,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $22.41, for a total value of $112,050.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in First Foundation stock. Russell Frank Co increased its position in shares of First Foundation Inc. (NASDAQ:FFWM) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.
First Foundation Inc is a financial services 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. 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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