Wall Street analysts expect First Foundation Inc. (NASDAQ:FFWM – get rating) to post earnings per share of $0.55 for the current quarter, based on Zacks. Four analysts have issued estimates of First Foundation’s earnings, with estimates ranging from $0.50 to $0.58. First Foundation reported earnings per share of $0.58 during the same quarter last year, which would indicate a negative 5.2% year-over-year growth rate. The company plans to issue its next earnings report on Monday, January 1.
According to Zacks, analysts expect First Foundation to report annual earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.10 to $2.38. For the next fiscal year, analysts expect the company to post earnings of $2.61 per share, with EPS estimates ranging from $2.40 to $2.80. Zacks’ EPS calculations are a median average based on a survey of sell-side analysts who follow First Foundation.
First Foundation (NASDAQ:FFWM – get rating) last issued its quarterly earnings data on Tuesday, April 26. The bank reported earnings per share (EPS) of $0.55 for the quarter, beating analyst consensus estimates of $0.51 by $0.04. First Foundation had a return on equity of 13.80% and a net margin of 34.58%. During the same quarter last year, the company earned $0.50 of earnings per share.
FFWM has been the subject of several recent investigative reports. StockNews.com kicked off First Foundation’s coverage in an investigative note on Thursday, March 31. They issued a “hold” rating for the company. Stephens kicked off the coverage of First Foundation in an investigative note on Wednesday, February 2. They issued an “overweight” rating and a $32.00 price target for the company. B. Riley lowered his price target on First Foundation from $34.00 to $31.00 in a research note on Tuesday, April 12. Finally, Zacks Investment Research First Foundation upgraded its rating from “sell” to a “hold” rating in a research note on Thursday, February 3. Two analysts rated the stock a hold rating and three issued a buy rating on the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $31.00.
NASDAQ:FFWM shares opened at $22.68 on Thursday. First Foundation has a 12-month minimum of $21.25 and a 12-month maximum of $29.41. The stock has a market capitalization of $1.28 billion, a PE ratio of 9.18, and a beta of 1.22. The company has a 50-day moving average of $24.35 and a 200-day moving average of $25.78. The company has a quick ratio of 0.90, a current ratio of 0.95, and a debt-to-equity ratio of 0.20.
The company also recently revealed a quarterly dividend, to be paid on Monday, May 16. Shareholders of record on Friday, May 6 will receive a dividend of $0.11 per share. The ex-dividend date is Thursday, May 5. This represents an annualized dividend of $0.44 and a yield of 1.94%. First Foundation’s dividend payout ratio is currently 17.81%.
In other news, director Diana M. Rubin acquired 1,000 shares of capital stock in a transaction on Monday, February 7. The shares were purchased at an average cost of $26.53 per share, for a total transaction of $26,530.00. The purchase was disclosed in a legal filing with the Securities and Exchange Commission, which is available via this link. 12.60% of the shares are owned by insiders.
Several large investors have recently made changes to their positions in FFWM. FMR LLC increased its holding in First Foundation stock by 6.6% during the first quarter. FMR LLC now owns 4,000,694 shares of the bank worth $54,289,000 after purchasing an additional 247,100 shares in the last quarter. Morgan Stanley increased its holding in First Foundation stock by 3,159.1% during the second quarter. Morgan Stanley now owns 20,304 shares of the bank worth $456,000 after buying an additional 19,681 shares in the last quarter. SG Americas Securities LLC purchased a new position in First Foundation stock during the third quarter worth $673,000. Victory Capital Management Inc. increased its stake in First Foundation stock by 2.9% during the third quarter. Victory Capital Management Inc. now owns 60,376 shares of the bank worth $1,587,000 after buying an additional 1,699 shares last quarter. Finally, Advisor Group Holdings Inc. increased its stake in First Foundation by 299.4% in the third quarter. Advisor Group Holdings Inc. now owns 50,795 shares of the bank valued at $1,335,000 after purchasing an additional 38,076 shares during the period. Institutional investors own 60.50% of the company’s shares.
Company Profile First Foundation (get rating)
First Foundation Inc, through its subsidiaries, provides personal banking, commercial banking and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. The company offers a variety of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable withdrawal accounts, money market accounts and time certificates of deposit; and credit products consisting of multi-family 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 term loans and lines of credit, and home equity lines of credit.
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