John Michel Sells 30,000 Shares of First Foundation Inc. (FFWM) Stock

First Foundation Inc. (NASDAQ:FFWM) CFO John Michel sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.58, for a total value of $497,400.00. Following the sale, the chief financial officer now owns 93,291 shares in the company, valued at $1,546,764.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

John Michel also recently made the following trade(s):

  • On Monday, September 11th, John Michel sold 20,000 shares of First Foundation stock. The shares were sold at an average price of $16.50, for a total value of $330,000.00.
  • On Wednesday, September 6th, John Michel sold 10,400 shares of First Foundation stock. The shares were sold at an average price of $16.80, for a total value of $174,720.00.

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 has a 50-day moving average price of $16.97 and a 200-day moving average price of $16.24. The company has a market capitalization of $587.25 million, a price-to-earnings ratio of 18.36 and a beta of 0.65.

First Foundation (NASDAQ:FFWM) last released its earnings results on Friday, July 28th. The bank reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $37.59 million for the quarter, compared to the consensus estimate of $36.38 million. Analysts anticipate that First Foundation Inc. will post $0.94 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in FFWM. Teachers Advisors LLC lifted its position in shares of First Foundation by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock valued at $627,000 after acquiring an additional 872 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of First Foundation in the first quarter valued at about $138,000. Nationwide Fund Advisors lifted its position in shares of First Foundation by 90.8% in the first quarter. Nationwide Fund Advisors now owns 17,943 shares of the bank’s stock valued at $278,000 after acquiring an additional 8,541 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of First Foundation by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock valued at $4,763,000 after acquiring an additional 22,616 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of First Foundation by 128.1% in the first quarter. Wells Fargo & Company MN now owns 81,240 shares of the bank’s stock valued at $1,260,000 after acquiring an additional 45,620 shares in the last quarter. Institutional investors and hedge funds own 52.33% of the company’s stock.

A number of research firms recently issued reports on FFWM. DA Davidson reiterated a “buy” rating and set a $19.50 price objective on shares of First Foundation in a research note on Monday, June 19th. Zacks Investment Research upgraded First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, June 29th. FBR & Co upgraded First Foundation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $21.00 in a research note on Thursday, June 22nd. ValuEngine upgraded First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average 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.

Insider Buying and Selling by Quarter for First Foundation (NASDAQ:FFWM)

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