First Foundation (NASDAQ:FFWM) will post its quarterly earnings results before the market opens on Tuesday, October 23rd. Analysts expect First Foundation to post earnings of $0.26 per share for the quarter.
First Foundation (NASDAQ:FFWM) last released its earnings results on Monday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). First Foundation had a return on equity of 9.51% and a net margin of 12.87%. The business had revenue of $43.24 million for the quarter, compared to analysts’ expectations of $45.38 million. On average, analysts expect First Foundation to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
NASDAQ:FFWM opened at $14.78 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.13 and a quick ratio of 1.00. First Foundation has a 12-month low of $14.24 and a 12-month high of $20.43. The stock has a market cap of $664.62 million, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.60.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded First Foundation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. B. Riley set a $19.00 target price on First Foundation and gave the stock a “buy” rating in a research report on Friday, October 12th. BidaskClub upgraded First Foundation from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. ValuEngine cut First Foundation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Finally, Raymond James cut their target price on First Foundation from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $20.08.
In other news, Director Max Briggs purchased 7,400 shares of the business’s stock in a transaction on Friday, September 14th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $121,212.00. Following the acquisition, the director now directly owns 8,510 shares of the company’s stock, valued at approximately $139,393.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 9,400 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $17.01, for a total value of $159,894.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $340,200. The disclosure for this sale can be found here. Insiders have acquired a total of 13,900 shares of company stock valued at $224,822 in the last 90 days. 14.30% of the stock is currently owned by company insiders.
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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