Wall Street analysts expect First Foundation Inc. (NASDAQ:FFWM – Get Rating) to report sales of $92.41 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Foundation’s earnings, with the highest sales estimate coming in at $95.12 million and the lowest estimate coming in at $90.20 million. First Foundation posted sales of $71.95 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that First Foundation will report full-year sales of $375.88 million for the current fiscal year, with estimates ranging from $366.10 million to $387.22 million. For the next year, analysts expect that the business will post sales of $423.04 million, with estimates ranging from $404.10 million to $447.65 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow First Foundation.
First Foundation (NASDAQ:FFWM – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company posted $0.50 earnings per share.
Several analysts have weighed in on the company. Stephens initiated coverage on First Foundation in a report on Wednesday, February 2nd. They set an “overweight” rating and a $32.00 price objective for the company. Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a research report on Thursday, February 3rd. StockNews.com initiated coverage on First Foundation in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, B. Riley decreased their target price on First Foundation from $34.00 to $31.00 in a research report on Tuesday, April 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Foundation presently has an average rating of “Buy” and an average target price of $31.00.
In other First Foundation news, Director Diane M. Rubin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The stock was acquired at an average cost of $26.53 per share, for a total transaction of $26,530.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Brookmont Capital Management grew its position in shares of First Foundation by 6.7% in the 4th quarter. Brookmont Capital Management now owns 8,361 shares of the bank’s stock valued at $208,000 after purchasing an additional 526 shares during the period. UBS Asset Management Americas Inc. boosted its position in First Foundation by 3.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 20,424 shares of the bank’s stock worth $537,000 after acquiring an additional 603 shares during the last quarter. Deutsche Bank AG boosted its position in First Foundation by 2.9% during the 4th quarter. Deutsche Bank AG now owns 27,626 shares of the bank’s stock worth $687,000 after acquiring an additional 767 shares during the last quarter. First Trust Advisors LP boosted its position in First Foundation by 6.7% during the 4th quarter. First Trust Advisors LP now owns 21,015 shares of the bank’s stock worth $522,000 after acquiring an additional 1,314 shares during the last quarter. Finally, Boston Partners boosted its position in First Foundation by 1.2% during the 4th quarter. Boston Partners now owns 138,176 shares of the bank’s stock worth $3,435,000 after acquiring an additional 1,586 shares during the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.
Shares of NASDAQ:FFWM opened at $21.95 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 8.89 and a beta of 1.22. First Foundation has a 1-year low of $21.25 and a 1-year high of $29.41. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $24.17 and a two-hundred day moving average price of $25.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, May 6th will be given a $0.11 dividend. The ex-dividend date is Thursday, May 5th. This represents a $0.44 annualized dividend and a dividend yield of 2.00%. First Foundation’s dividend payout ratio is presently 17.81%.
About First Foundation (Get Rating)
First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. 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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.
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