John Hakopian Sells 29,857 Shares of First Foundation Inc. (NASDAQ:FFWM) Stock

First Foundation Inc. (NASDAQ:FFWM – Get Rating) insider John Hakopian sold 29,857 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $9.27, for a total transaction of $276,774.39. Following the completion of the sale, the insider now owns 620,842 shares of the company’s stock, valued at approximately $5,755,205.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, March 13th, John Hakopian sold 100,000 shares of First Foundation stock. The stock was sold at an average price of $7.96, for a total transaction of $796,000.00.

First Foundation Trading Down 7.7 %

FFWM stock opened at $8.69 on Friday. The company has a market capitalization of $489.68 million, a PE ratio of 4.43 and a beta of 0.95. First Foundation Inc. has a 12 month low of $7.53 and a 12 month high of $26.18. The firm’s 50-day moving average is $14.65 and its 200 day moving average is $15.78. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 1.08.

First Foundation (NASDAQ:FFWM – Get Rating) last posted its earnings results on Thursday, January 26th. The bank reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $81.94 million for the quarter, compared to the consensus estimate of $94.93 million. First Foundation had a net margin of 24.44% and a return on equity of 10.18%. On average, research analysts anticipate that First Foundation Inc. will post 0.86 EPS for the current year.

First Foundation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 6th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend was Friday, February 3rd. First Foundation’s dividend payout ratio (DPR) is 22.45%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FFWM. Lindbrook Capital LLC increased its position in First Foundation by 348.6% during the 4th quarter. Lindbrook Capital LLC now owns 2,104 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,635 shares during the period. Quadrant Capital Group LLC grew its position in shares of First Foundation by 674.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $39,000 after buying an additional 1,888 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of First Foundation in the 3rd quarter worth approximately $46,000. Allworth Financial LP grew its position in shares of First Foundation by 29.8% in the 4th quarter. Allworth Financial LP now owns 4,390 shares of the bank’s stock worth $63,000 after buying an additional 1,009 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of First Foundation in the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 69.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James lowered their target price on shares of First Foundation from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 27th. StockNews.com initiated coverage on shares of First Foundation in a report on Thursday. They issued a “sell” rating for the company. Finally, Piper Sandler downgraded shares of First Foundation from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $17.50 to $16.00 in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, First Foundation currently has an average rating of “Hold” and an average target price of $18.75.

About First Foundation

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First Foundation, Inc is a bank holding, which engages in the provision of a comprehensive platform of financial services to individuals, businesses, and organizations. It operates through the following segments: Banking, Wealth Management, and Other. The company was founded by John Avak Hakopian and Ulrich Emanuel Keller, Jr.