Equities research analysts expect that First Foundation Inc. (NASDAQ:FFWM) will post earnings per share of $0.24 for the current quarter, Zacks reports. Three analysts have issued estimates for First Foundation’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.22. First Foundation posted earnings of $0.29 per share in the same quarter last year, which suggests a negative year over year growth rate of 17.2%. The firm is expected to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that First Foundation will report full year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.85 to $0.98. For the next financial year, analysts forecast that the firm will post earnings of $1.18 per share, with EPS estimates ranging from $1.13 to $1.21. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for First Foundation.
First Foundation (NASDAQ:FFWM) last announced its earnings results on Friday, July 28th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.07. First Foundation had a net margin of 20.14% and a return on equity of 11.09%. The firm had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million.
FFWM has been the subject of a number of research reports. FBR & Co raised their price objective on First Foundation from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, April 25th. Piper Jaffray Companies assumed coverage on First Foundation in a research note on Friday, May 12th. They issued a “neutral” rating and a $18.00 price objective on the stock. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, DA Davidson reissued a “buy” rating and issued a $19.50 price objective on shares of First Foundation in a research note on Monday, June 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $19.13.
In related news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $16.38, for a total value of $163,800.00. Following the completion of the sale, the chairman now owns 20,000 shares in the company, valued at $327,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Michel sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $16.47, for a total value of $494,100.00. Following the completion of the sale, the chief financial officer now owns 83,291 shares of the company’s stock, valued at approximately $1,371,802.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $809,800. 18.50% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after buying an additional 4,112 shares during the last quarter. Bank of Montreal Can purchased a new position in First Foundation during the first quarter valued at $138,000. Alliancebernstein L.P. purchased a new position in First Foundation during the first quarter valued at $192,000. Hollencrest Securities LLC purchased a new position in First Foundation during the second quarter valued at $207,000. Finally, Citadel Advisors LLC boosted its position in First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock valued at $217,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 51.34% of the company’s stock.
Shares of First Foundation (NASDAQ:FFWM) traded up 1.23% on Friday, reaching $17.31. 127,685 shares of the company traded hands. The firm has a 50-day moving average of $16.61 and a 200-day moving average of $15.90. First Foundation has a 52-week low of $11.15 and a 52-week high of $18.16. The company has a market capitalization of $591.19 million, a PE ratio of 18.26 and a beta of 0.65.
First Foundation Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Foundation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Foundation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.