Somewhat Positive Media Coverage Somewhat Unlikely to Impact First Foundation (FFWM) Share Price
Media headlines about First Foundation (NASDAQ:FFWM) have been trending somewhat positive on Wednesday, according to Accern. Accern ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. First Foundation earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 44.7442832114342 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
FFWM has been the topic of a number of recent research reports. Zacks Investment Research cut shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Piper Jaffray Companies initiated coverage on shares of First Foundation in a research note on Friday, May 12th. They issued a “neutral” rating and a $18.00 price objective on the stock. FBR & Co raised shares of First Foundation from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday, June 22nd. TheStreet raised shares of First Foundation from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Finally, ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.13.
Shares of First Foundation (NASDAQ:FFWM) traded down 0.78% during trading on Wednesday, reaching $16.56. 17,413 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $17.00 and its 200-day moving average price is $16.23. The stock has a market cap of $570.71 million, a PE ratio of 17.84 and a beta of 0.65. First Foundation has a 52-week low of $11.64 and a 52-week high of $18.16.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $36.38 million. On average, equities research analysts forecast that First Foundation will post $0.94 EPS for the current year.
In other news, Director Gerald L. Larsen sold 17,400 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.40, for a total transaction of $302,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 6,800 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.30, for a total transaction of $117,640.00. Following the sale, the chairman now owns 20,000 shares of the company’s stock, valued at $346,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,755 shares of company stock valued at $1,330,075. 18.50% of the stock is currently owned by corporate insiders.
About First Foundation
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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