Brokerages expect First Foundation (NASDAQ:FFWM) to announce earnings of $0.28 per share for the current quarter, according to Zacks. Four analysts have provided estimates for First Foundation’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.31. First Foundation also reported earnings of $0.28 per share in the same quarter last year. The business is expected to report its next quarterly earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that First Foundation will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.14 to $1.22. For the next fiscal year, analysts expect that the business will post earnings of $1.52 per share, with EPS estimates ranging from $1.48 to $1.60. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow First Foundation.
First Foundation (NASDAQ:FFWM) last posted its earnings results on Tuesday, April 24th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.03). The firm had revenue of $43.25 million for the quarter, compared to analysts’ expectations of $43.15 million. First Foundation had a net margin of 16.05% and a return on equity of 10.22%.
Several equities analysts have recently weighed in on FFWM shares. Zacks Investment Research raised shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 9th. BidaskClub raised shares of First Foundation from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 24th. B. Riley reaffirmed a “buy” rating and set a $22.00 target price (down from $23.00) on shares of First Foundation in a report on Thursday, February 1st. TheStreet raised shares of First Foundation from a “c+” rating to a “b” rating in a report on Monday, March 19th. Finally, Sandler O’Neill reissued a “buy” rating on shares of First Foundation in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. First Foundation has an average rating of “Hold” and an average price target of $20.70.
In related news, Director Gerald L. Larsen sold 22,000 shares of the business’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $18.61, for a total value of $409,420.00. Following the completion of the sale, the director now owns 22,000 shares of the company’s stock, valued at approximately $409,420. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $18.24, for a total transaction of $182,400.00. Following the completion of the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $364,800. The disclosure for this sale can be found here. In the last three months, insiders sold 140,486 shares of company stock valued at $2,609,643. 18.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new stake in First Foundation in the 4th quarter worth $155,000. Teacher Retirement System of Texas purchased a new stake in shares of First Foundation during the fourth quarter worth $194,000. Wedbush Securities Inc. purchased a new stake in shares of First Foundation during the fourth quarter worth $210,000. Capital Advantage Inc. purchased a new stake in shares of First Foundation during the first quarter worth $233,000. Finally, Creative Planning purchased a new stake in shares of First Foundation during the fourth quarter worth $283,000. 56.12% of the stock is owned by institutional investors.
Shares of First Foundation traded up $0.10, hitting $18.84, during trading on Thursday, MarketBeat Ratings reports. 551 shares of the stock traded hands, compared to its average volume of 147,532. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.15 and a quick ratio of 1.11. The firm has a market cap of $722.95 million, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.71. First Foundation has a 52-week low of $18.46 and a 52-week high of $18.56.
First Foundation Company Profile
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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