First Foundation Inc. (NASDAQ: FFWM – Get a rating) benefited from a sharp rise in short-term interest rates in March. As of March 31, there was short interest totaling 905,600 shares, an increase of 36.9% from the March 15 total of 661,300 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is currently ∞ days.
Shares of First action of the Foundation traded at $0.29 on Friday, reaching $23.21. 183,897 shares of the company were traded, against an average volume of 373,228. The stock has a market capitalization of $1.31 billion, a P/E ratio of 9.59 and a beta of 1.24. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt ratio of 0.20. The company’s 50-day moving average is $25.27 and its 200-day moving average is $26.10. First Foundation has a 52-week minimum of $20.30 and a 52-week maximum of $29.41.
First foundation (NASDAQ: FFWM – Get a rating) last released its results on Monday, January 31. The bank reported EPS of $0.51 for the quarter, beating Thomson Reuters consensus estimate of $0.40 by $0.11. The company posted revenue of $75.79 million in the quarter, compared to $74.40 million expected by analysts. First Foundation had a return on equity of 13.36% and a net margin of 34.47%. During the same period a year earlier, the company posted EPS of $0.50. Equity research analysts expect First Foundation to post EPS of 2.32 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Investors of record on Thursday, February 10 received a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 9. This is a boost from First Foundation’s previous quarterly dividend of $0.09. This represents an annualized dividend of $0.44 and a yield of 1.90%. First Foundation’s dividend payout ratio (DPR) is 18.18%.
In other First Foundation news, Director Diane M. Rubin bought 1,000 shares of the company in a transaction that took place on Monday, February 7. The shares were purchased at an average price of $26.53 per share, with a total value of $26,530.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. 13.90% of the shares are currently held by company insiders.
Institutional investors and hedge funds have recently changed their positions in the stock. Andrew Hill Investment Advisors Inc. bought a new position in First Foundation during the fourth quarter worth $48,000. Acadian Asset Management LLC acquired a new position in First Foundation during the fourth quarter worth $165,000. Los Angeles Capital Management LLC bought a new position in First Foundation during the third quarter at a value of $216,000. Brookmont Capital Management increased its stake in First Foundation by 6.7% during the fourth quarter. Brookmont Capital Management now owns 8,361 shares of the bank worth $208,000 after buying 526 additional shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in First Foundation during the fourth quarter at a value of $216,000. Hedge funds and other institutional investors own 69.39% of the company’s shares.
Several brokerages have published reports on FFWM. Stephens began covering First Foundation stocks in a research report on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 for the company. StockNews.com began covering First Foundation stocks in a research report on Thursday, March 31. They issued a “holding” rating for the company. B. Riley lowered his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 research report. To finish, Zacks Investment Research upgraded First Foundation’s shares from a “sell” to a “hold” rating in a Thursday, Feb. 3 research report. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $30.00.
First Foundation Company Profile (Get a rating)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking services in the United States. It operates through two segments, Banking and Wealth Management. The Company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family 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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