Brokerages expect First Foundation Inc (NASDAQ:FFWM) to report $0.26 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for First Foundation’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.32. First Foundation posted earnings of $0.18 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 44.4%. The business is expected to issue its next earnings report on Monday, April 23rd.
According to Zacks, analysts expect that First Foundation will report full-year earnings of $1.27 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.42. For the next fiscal year, analysts expect that the firm will post earnings of $1.57 per share, with EPS estimates ranging from $1.49 to $1.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow First Foundation.
First Foundation (NASDAQ:FFWM) last issued its earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $42.60 million during the quarter, compared to the consensus estimate of $40.94 million. First Foundation had a return on equity of 10.92% and a net margin of 15.71%.
A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and set a $22.00 target price (down from $23.00) on shares of First Foundation in a research note on Thursday, February 1st. Zacks Investment Research downgraded First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. BidaskClub downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 price objective on shares of First Foundation in a research note on Tuesday, January 9th. Finally, TheStreet downgraded First Foundation from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. First Foundation currently has an average rating of “Buy” and a consensus target price of $20.70.
Shares of First Foundation (NASDAQ FFWM) traded up $0.01 during mid-day trading on Friday, hitting $19.12. The stock had a trading volume of 177,349 shares, compared to its average volume of 156,745. The stock has a market cap of $733.21, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73. First Foundation has a fifty-two week low of $14.67 and a fifty-two week high of $19.84. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24.
In related news, insider John Hakopian sold 10,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $18.78, for a total value of $202,824.00. Following the completion of the transaction, the insider now directly owns 33,200 shares of the company’s stock, valued at approximately $623,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $18.66, for a total value of $186,600.00. Following the completion of the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at $373,200. The disclosure for this sale can be found here. Insiders sold a total of 123,791 shares of company stock valued at $2,305,802 over the last ninety days. 18.50% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in First Foundation during the 3rd quarter valued at $117,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC acquired a new stake in First Foundation during the 4th quarter valued at $155,000. Teacher Retirement System of Texas acquired a new stake in First Foundation during the 4th quarter valued at $194,000. Wedbush Securities Inc. acquired a new stake in First Foundation during the 4th quarter valued at $210,000. Finally, Citadel Advisors LLC acquired a new stake in First Foundation during the 3rd quarter valued at $221,000. Hedge funds and other institutional investors own 54.15% of the company’s stock.
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About First Foundation
First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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