First Foundation Inc (NASDAQ:FFWM) – Equities researchers at B. Riley reduced their Q2 2018 earnings per share estimates for First Foundation in a research note issued on Tuesday, June 19th. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $0.30 per share for the quarter, down from their prior forecast of $0.31. B. Riley also issued estimates for First Foundation’s FY2018 earnings at $1.19 EPS and Q3 2019 earnings at $0.41 EPS.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. BidaskClub upgraded shares of First Foundation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 24th. TheStreet upgraded shares of First Foundation from a “c+” rating to a “b” rating in a research report on Monday, March 19th. Sandler O’Neill restated a “buy” rating on shares of First Foundation in a research report on Thursday, March 29th. Finally, DA Davidson upped their target price on shares of First Foundation from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.60.
First Foundation opened at $20.23 on Thursday, according to Marketbeat.com. The company has a market capitalization of $781.18 million, a price-to-earnings ratio of 20.86, a PEG ratio of 2.39 and a beta of 0.74. First Foundation has a 1-year low of $16.03 and a 1-year high of $20.43. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.15 and a quick ratio of 1.11.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Tuesday, April 24th. The bank reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). The firm had revenue of $43.25 million during the quarter, compared to the consensus estimate of $43.15 million. First Foundation had a return on equity of 10.22% and a net margin of 16.05%.
In related news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $18.24, for a total transaction of $182,400.00. Following the completion of the transaction, the chairman now owns 20,000 shares in the company, valued at $364,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald L. Larsen sold 22,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $18.61, for a total transaction of $409,420.00. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $409,420. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,500 shares of company stock valued at $1,792,845. 18.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FFWM. Schwab Charles Investment Management Inc. raised its stake in First Foundation by 13.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 127,610 shares of the bank’s stock valued at $2,366,000 after purchasing an additional 14,845 shares in the last quarter. Victory Capital Management Inc. raised its stake in First Foundation by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 74,022 shares of the bank’s stock valued at $1,372,000 after purchasing an additional 7,537 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in First Foundation during the fourth quarter valued at $194,000. Swiss National Bank raised its stake in First Foundation by 11.8% during the fourth quarter. Swiss National Bank now owns 52,000 shares of the bank’s stock valued at $964,000 after purchasing an additional 5,500 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in First Foundation by 8.6% during the fourth quarter. First Trust Advisors LP now owns 72,230 shares of the bank’s stock valued at $1,339,000 after purchasing an additional 5,700 shares in the last quarter. 60.22% of the stock is currently owned by institutional investors.
About First Foundation
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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