Ulrich E. Keller, Jr. Sells 16,245 Shares of First Foundation Inc. (FFWM) Stock
First Foundation Inc. (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 16,245 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $16.60, for a total value of $269,667.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at approximately $332,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of First Foundation Inc. (NASDAQ:FFWM) opened at 17.04 on Friday. First Foundation Inc. has a 52-week low of $11.64 and a 52-week high of $18.16. The firm’s 50-day moving average price is $16.97 and its 200-day moving average price is $16.24. The stock has a market capitalization of $587.25 million, a P/E ratio of 18.36 and a beta of 0.65.
First Foundation (NASDAQ:FFWM) last posted its earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. First Foundation had a return on equity of 10.82% and a net margin of 20.14%. The firm had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $36.38 million. Equities analysts forecast that First Foundation Inc. will post $0.94 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in shares of First Foundation by 101.4% during the 1st quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after purchasing an additional 4,112 shares during the period. Bank of Montreal Can acquired a new position in shares of First Foundation during the 1st quarter valued at $138,000. Alliancebernstein L.P. acquired a new position in shares of First Foundation during the 1st quarter valued at $192,000. Hollencrest Securities LLC acquired a new position in shares of First Foundation during the 2nd quarter valued at $207,000. Finally, Citadel Advisors LLC increased its position in shares of 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 during the period. Hedge funds and other institutional investors own 52.33% of the company’s stock.
A number of research analysts recently weighed in on the company. Zacks Investment Research lowered First Foundation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet raised First Foundation from a “d” rating to a “c-” rating in a report on Wednesday, July 26th. BidaskClub lowered First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. FBR & Co set a $21.00 price objective on First Foundation and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, DA Davidson reaffirmed a “buy” rating and set a $19.50 price objective on shares of First Foundation in a report on Monday, June 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.13.
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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