First Foundation Inc (NASDAQ:FFWM) – Equities research analysts at DA Davidson boosted their Q3 2018 EPS estimates for First Foundation in a report released on Wednesday, Zacks Investment Research reports. DA Davidson analyst G. Tenner now anticipates that the bank will earn $0.31 per share for the quarter, up from their previous forecast of $0.29. DA Davidson also issued estimates for First Foundation’s Q4 2018 earnings at $0.34 EPS, FY2018 earnings at $1.19 EPS and FY2019 earnings at $1.44 EPS.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. First Foundation had a return on equity of 10.32% and a net margin of 19.62%. The firm had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.83 million.
A number of other brokerages have also issued reports on FFWM. TheStreet raised First Foundation from a “c-” rating to a “b-” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, October 27th. ValuEngine lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price target on shares of First Foundation in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.38.
Shares of First Foundation (NASDAQ:FFWM) opened at $19.16 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24. First Foundation has a 52 week low of $13.64 and a 52 week high of $19.84. The stock has a market capitalization of $723.66, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66.
In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of First Foundation stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $18.40, for a total value of $184,000.00. Following the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $368,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management Inc. acquired a new position in shares of First Foundation in the 2nd quarter valued at about $4,926,000. Bank of New York Mellon Corp lifted its position in First Foundation by 10.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,413 shares of the bank’s stock worth $2,126,000 after acquiring an additional 12,557 shares in the last quarter. John W. Rosenthal Capital Management Inc. lifted its position in First Foundation by 7.3% during the 3rd quarter. John W. Rosenthal Capital Management Inc. now owns 150,000 shares of the bank’s stock worth $2,684,000 after acquiring an additional 10,200 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in First Foundation during the 3rd quarter worth approximately $1,671,000. Finally, Dimensional Fund Advisors LP lifted its position in First Foundation by 156.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 291,576 shares of the bank’s stock worth $4,523,000 after acquiring an additional 177,657 shares in the last quarter. 50.28% of the stock is currently owned by institutional investors and hedge funds.
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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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