Analysts Set First Foundation Inc. (FFWM) Target Price at $19.50
Shares of First Foundation Inc. (NASDAQ:FFWM) have been given an average rating of “Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $19.50.
Several analysts have issued reports on FFWM shares. ValuEngine upgraded shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. DA Davidson restated a “buy” rating and set a $19.50 price target on shares of First Foundation in a research report on Monday, June 19th. FBR & Co upgraded shares of First Foundation from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $21.00 in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, June 29th. Finally, BidaskClub lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.
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In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $16.38, for a total transaction of $163,800.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $327,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $17.12, for a total transaction of $232,832.00. Following the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $342,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,600 shares of company stock valued at $2,918,822. Company insiders own 18.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of First Foundation by 101.4% during the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after acquiring an additional 4,112 shares during the last quarter. Bank of Montreal Can bought a new position in shares of First Foundation during the first quarter valued at about $138,000. Alliancebernstein L.P. bought a new position in shares of First Foundation during the first quarter valued at about $192,000. Hollencrest Securities LLC bought a new position in shares of First Foundation during the second quarter valued at about $207,000. Finally, Citadel Advisors LLC raised its stake in shares of First Foundation by 3.7% during the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock valued at $217,000 after acquiring an additional 496 shares during the last quarter. 52.33% of the stock is owned by hedge funds and other institutional investors.
Shares of First Foundation (NASDAQ FFWM) traded down 0.65% on Tuesday, reaching $16.90. The company had a trading volume of 56,533 shares. The company’s 50-day moving average is $16.97 and its 200-day moving average is $16.24. First Foundation has a one year low of $11.64 and a one year high of $18.16. The company has a market capitalization of $582.42 million, a PE ratio of 18.21 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.07. First Foundation had a net margin of 20.14% and a return on equity of 10.82%. The business had revenue of $37.59 million during the quarter, compared to analyst estimates of $36.38 million. Equities research analysts predict that First Foundation will post $0.94 earnings per share for the current year.
First Foundation Company Profile
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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