Brokerages expect that First Foundation Inc (NASDAQ:FFWM) will announce $0.28 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for First Foundation’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.30. First Foundation also posted earnings per share of $0.28 in the same quarter last year. The firm is expected to report its next earnings results before the market opens on Monday, July 30th.
On average, 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 $1.21. For the next fiscal year, analysts forecast that the firm will report earnings of $1.55 per share, with EPS estimates ranging from $1.50 to $1.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover First Foundation.
First Foundation (NASDAQ:FFWM) last posted its quarterly earnings data on Tuesday, April 24th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.03). The company had revenue of $43.25 million during the quarter, compared to the consensus estimate of $43.15 million. First Foundation had a net margin of 16.05% and a return on equity of 10.22%.
Several equities research analysts have recently issued reports on FFWM shares. TheStreet raised First Foundation from a “c+” rating to a “b” rating in a research note on Monday, March 19th. BidaskClub downgraded First Foundation from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 12th. Sandler O’Neill restated a “buy” rating on shares of First Foundation in a report on Thursday, March 29th. DA Davidson raised their price objective on First Foundation from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 11th. Finally, Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. First Foundation has a consensus rating of “Buy” and a consensus price target of $21.60.
In other news, insider John Hakopian sold 10,000 shares of First Foundation stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $19.22, for a total value of $192,200.00. Following the transaction, the insider now directly owns 33,200 shares in the company, valued at approximately $638,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald L. Larsen sold 22,000 shares of First Foundation 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 transaction, the director now owns 22,000 shares in the company, valued at $409,420. The disclosure for this sale can be found here. Insiders have sold a total of 94,500 shares of company stock worth $1,792,845 over the last 90 days. 18.50% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of First Foundation by 11.8% in the 4th quarter. Swiss National Bank now owns 52,000 shares of the bank’s stock valued at $964,000 after acquiring an additional 5,500 shares during the period. Victory Capital Management Inc. increased its stake in shares of First Foundation by 7.6% in the 1st quarter. Victory Capital Management Inc. now owns 79,650 shares of the bank’s stock valued at $1,477,000 after purchasing an additional 5,628 shares in the last quarter. First Trust Advisors LP increased its stake in shares of First Foundation by 8.6% in the 4th 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. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new position in shares of First Foundation in the 4th quarter valued at about $155,000. Finally, JPMorgan Chase & Co. increased its stake in shares of First Foundation by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 123,685 shares of the bank’s stock valued at $2,293,000 after purchasing an additional 8,467 shares in the last quarter. Institutional investors and hedge funds own 60.22% of the company’s stock.
Shares of NASDAQ:FFWM traded down $0.29 during trading on Wednesday, hitting $18.85. The company had a trading volume of 148,100 shares, compared to its average volume of 173,708. The firm has a market capitalization of $759.29 million, a price-to-earnings ratio of 19.43, a PEG ratio of 2.34 and a beta of 0.74. First Foundation has a one year low of $16.08 and a one 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 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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