Brokerages Expect First Foundation Inc. (FFWM) to Announce $0.50 EPS
First Foundation Inc. (NASDAQ:FFWM) has been given a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus target price of $27.33 for the company and are expecting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Foundation an industry rank of 115 out of 265 based on the ratings given to related companies.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded First Foundation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 27th. DA Davidson reaffirmed a “buy” rating and issued a $27.00 price objective on shares of First Foundation in a research note on Tuesday, August 23rd. Finally, FBR & Co raised their price objective on First Foundation from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, July 29th.
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In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $24.27, for a total transaction of $121,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. American International Group Inc. acquired a new stake in First Foundation during the second quarter valued at about $163,000. Dimensional Fund Advisors LP acquired a new stake in First Foundation during the second quarter valued at about $226,000. Rhumbline Advisers acquired a new stake in First Foundation during the second quarter valued at about $238,000. Nationwide Fund Advisors boosted its stake in First Foundation by 193.8% in the second quarter. Nationwide Fund Advisors now owns 12,928 shares of the company’s stock valued at $278,000 after buying an additional 8,528 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in First Foundation during the second quarter valued at about $308,000. Institutional investors and hedge funds own 56.09% of the company’s stock.
Shares of First Foundation (NASDAQ:FFWM) traded up 0.22% during trading on Tuesday, hitting $24.50. The stock had a trading volume of 7,226 shares. The company has a market cap of $397.39 million, a PE ratio of 25.68 and a beta of 0.41. The stock’s 50 day moving average is $24.58 and its 200-day moving average is $23.11. First Foundation has a 12-month low of $20.00 and a 12-month high of $25.25.
First Foundation (NASDAQ:FFWM) last issued its earnings results on Thursday, July 28th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. First Foundation had a return on equity of 4.84% and a net margin of 12.68%. Analysts forecast that First Foundation will post $1.38 earnings per share for the current year.
First Foundation Company Profile
First Foundation Inc is a financial services holding company. The Company 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.
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