Analysts Anticipate First Foundation Inc (NASDAQ:FFWM) Will Post Earnings of $0.31 Per Share

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Analysts expect First Foundation Inc (NASDAQ:FFWM) to post $0.31 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for First Foundation’s earnings. First Foundation also posted earnings per share of $0.31 during the same quarter last year. The business is scheduled to announce its next earnings results on Wednesday, January 29th.

On average, analysts expect that First Foundation will report full-year earnings of $1.23 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.23. For the next financial year, analysts forecast that the company will post earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. First Foundation had a return on equity of 9.52% and a net margin of 19.41%. The business had revenue of $57.11 million during the quarter, compared to analyst estimates of $56.83 million.

FFWM has been the topic of several research reports. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. BidaskClub cut First Foundation from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, ValuEngine cut First Foundation from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd.

NASDAQ FFWM traded up $0.09 during trading on Friday, hitting $16.55. The stock had a trading volume of 12,751 shares, compared to its average volume of 71,127. The company has a market capitalization of $735.90 million, a PE ratio of 14.15 and a beta of 0.87. The company’s 50-day moving average price is $16.14 and its two-hundred day moving average price is $14.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.88 and a current ratio of 0.98. First Foundation has a 12 month low of $11.79 and a 12 month high of $16.77.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, November 29th. First Foundation’s dividend payout ratio is currently 17.09%.

In other news, Chairman Ulrich E. Keller, Jr. sold 37,337 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $16.47, for a total transaction of $614,940.39. Following the sale, the chairman now owns 20,000 shares in the company, valued at approximately $329,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John Michel sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $15.74, for a total value of $78,700.00. Following the sale, the chief financial officer now owns 37,000 shares in the company, valued at approximately $582,380. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,937 shares of company stock worth $1,191,502. Company insiders own 13.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Phocas Financial Corp. acquired a new position in First Foundation in the 2nd quarter valued at $42,000. Royal Bank of Canada grew its holdings in shares of First Foundation by 565.5% during the 2nd quarter. Royal Bank of Canada now owns 3,088 shares of the bank’s stock worth $42,000 after purchasing an additional 2,624 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of First Foundation during the 2nd quarter worth $44,000. Aperio Group LLC acquired a new stake in shares of First Foundation during the 2nd quarter worth $57,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of First Foundation by 15.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,739 shares of the bank’s stock worth $143,000 after purchasing an additional 1,444 shares in the last quarter. 59.20% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for First Foundation (NASDAQ:FFWM)

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