Analysts expect that First Foundation (NASDAQ:FFWM) will announce $43.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for First Foundation’s earnings, with estimates ranging from $41.56 million to $44.00 million. First Foundation posted sales of $33.84 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.5%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, April 24th.
On average, analysts expect that First Foundation will report full-year sales of $196.41 million for the current financial year, with estimates ranging from $188.92 million to $204.30 million. For the next financial year, analysts anticipate that the company will post sales of $236.79 million per share, with estimates ranging from $226.98 million to $253.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover 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 the Zacks’ consensus estimate of $0.24 by $0.01. First Foundation had a return on equity of 10.28% and a net margin of 15.71%. The business had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $40.94 million.
A number of brokerages have recently issued reports on FFWM. Zacks Investment Research raised First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 16th. B. Riley reissued a “buy” rating and issued a $22.00 target price (down from $23.00) on shares of First Foundation in a report on Thursday, February 1st. BidaskClub raised First Foundation from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Jaffray reissued a “hold” rating and issued a $20.00 target price on shares of First Foundation in a report on Tuesday, January 9th. Finally, TheStreet cut First Foundation from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. First Foundation has an average rating of “Buy” and a consensus price target of $20.70.
Shares of FFWM opened at $18.30 on Friday. First Foundation has a 1 year low of $15.06 and a 1 year high of $19.84. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $710.03, a PE ratio of 18.87, a P/E/G ratio of 2.06 and a beta of 0.70.
In related news, Director Max Briggs sold 5,305 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.11, for a total transaction of $101,378.55. Following the sale, the director now directly owns 6,415 shares in the company, valued at approximately $122,590.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Warren D. Fix sold 16,254 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $18.38, for a total value of $298,748.52. Following the sale, the director now owns 73,234 shares in the company, valued at $1,346,040.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,791 shares of company stock worth $2,713,622. 18.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in First Foundation during the 3rd quarter worth approximately $117,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC bought a new stake in First Foundation during the 4th quarter worth approximately $155,000. Teacher Retirement System of Texas bought a new stake in First Foundation during the 4th quarter worth approximately $194,000. Wedbush Securities Inc. bought a new stake in First Foundation during the 4th quarter worth approximately $210,000. Finally, Citadel Advisors LLC bought a new stake in First Foundation during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 53.06% of the company’s stock.
First Foundation Company Profile
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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