First Foundation Inc (NASDAQ:FFWM) – Analysts at Piper Jaffray Companies cut their Q4 2018 EPS estimates for First Foundation in a research report issued on Monday, November 5th. Piper Jaffray Companies analyst M. Clark now forecasts that the bank will earn $0.30 per share for the quarter, down from their previous forecast of $0.34. Piper Jaffray Companies has a “Hold” rating and a $16.00 price objective on the stock. Piper Jaffray Companies also issued estimates for First Foundation’s Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.16 EPS, Q1 2020 earnings at $0.29 EPS, Q2 2020 earnings at $0.35 EPS, Q3 2020 earnings at $0.39 EPS and FY2020 earnings at $1.45 EPS.
Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of First Foundation from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 6th. BidaskClub lowered shares of First Foundation from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. Sandler O’Neill lowered shares of First Foundation from a “buy” rating to a “hold” rating and set a $21.50 target price for the company. in a research note on Tuesday, July 31st. Zacks Investment Research lowered shares of First Foundation from a “hold” rating to a “strong sell” rating in a research note on Friday, August 3rd. Finally, B. Riley set a $19.00 target price on shares of First Foundation and gave the stock a “buy” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. First Foundation currently has a consensus rating of “Hold” and an average price target of $19.90.
NASDAQ FFWM opened at $16.36 on Tuesday. First Foundation has a 1 year low of $14.00 and a 1 year high of $20.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.13 and a quick ratio of 1.00. The firm has a market capitalization of $727.67 million, a PE ratio of 16.87, a PEG ratio of 2.22 and a beta of 0.47.
First Foundation (NASDAQ:FFWM) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. First Foundation had a net margin of 13.75% and a return on equity of 10.12%. The firm had revenue of $54.83 million during the quarter, compared to analyst estimates of $49.89 million.
Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in shares of First Foundation in the 2nd quarter worth about $254,000. GSA Capital Partners LLP purchased a new position in shares of First Foundation in the 2nd quarter worth about $260,000. Quantitative Systematic Strategies LLC purchased a new position in shares of First Foundation in the 2nd quarter worth about $273,000. Wedbush Securities Inc. purchased a new position in shares of First Foundation in the 2nd quarter worth about $274,000. Finally, Creative Planning purchased a new position in shares of First Foundation in the 2nd quarter worth about $358,000. 55.65% of the stock is currently owned by institutional investors.
In related news, Director Max Briggs purchased 7,400 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average cost of $16.38 per share, with a total value of $121,212.00. Following the acquisition, the director now owns 8,510 shares of the company’s stock, valued at $139,393.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James G. Brakke purchased 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was bought at an average cost of $15.92 per share, for a total transaction of $87,560.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 13,900 shares of company stock valued at $224,822. Company insiders own 14.30% of the company’s stock.
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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