First Foundation Inc (FFWM) CFO John Michel Sells 14,000 Shares

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First Foundation Inc (NASDAQ:FFWM) CFO John Michel sold 14,000 shares of First Foundation stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $16.33, for a total value of $228,620.00. Following the transaction, the chief financial officer now owns 37,000 shares of the company’s stock, valued at approximately $604,210. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ FFWM opened at $16.39 on Wednesday. First Foundation Inc has a twelve month low of $14.00 and a twelve month high of $20.43. The company has a market capitalization of $727.67 million, a PE ratio of 16.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.47. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 1.53.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. First Foundation had a return on equity of 10.12% and a net margin of 13.75%. The firm had revenue of $54.83 million for the quarter, compared to the consensus estimate of $49.89 million. On average, analysts forecast that First Foundation Inc will post 1.06 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teton Advisors Inc. boosted its stake in shares of First Foundation by 378.4% in the 3rd quarter. Teton Advisors Inc. now owns 48,800 shares of the bank’s stock worth $762,000 after buying an additional 38,600 shares during the last quarter. Victory Capital Management Inc. lifted its stake in First Foundation by 10.4% in the third quarter. Victory Capital Management Inc. now owns 87,900 shares of the bank’s stock valued at $1,373,000 after purchasing an additional 8,250 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in First Foundation by 18.9% in the third quarter. Mesirow Financial Investment Management Inc. now owns 27,070 shares of the bank’s stock valued at $423,000 after purchasing an additional 4,310 shares during the last quarter. Northern Trust Corp lifted its stake in First Foundation by 16.1% in the second quarter. Northern Trust Corp now owns 391,993 shares of the bank’s stock valued at $7,267,000 after purchasing an additional 54,371 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in First Foundation in the second quarter valued at approximately $5,968,000. Hedge funds and other institutional investors own 55.65% of the company’s stock.

A number of equities analysts have issued reports on FFWM shares. TheStreet upgraded First Foundation from a “c+” rating to a “b-” rating in a research note on Thursday, November 1st. B. Riley set a $19.00 price target on First Foundation and gave the company a “buy” rating in a research note on Friday, October 12th. Sandler O’Neill downgraded First Foundation from a “buy” rating to a “hold” rating and set a $21.50 price target for the company. in a research note on Tuesday, July 31st. Piper Jaffray Companies set a $16.00 price target on First Foundation and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research upgraded First Foundation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.90.

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About First Foundation

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

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