$0.21 Earnings Per Share Expected for First Foundation Inc (FFWM) This Quarter
Wall Street brokerages predict that First Foundation Inc (NASDAQ:FFWM) will announce earnings per share (EPS) of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for First Foundation’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.19. First Foundation reported earnings per share of $0.10 during the same quarter last year, which would suggest a positive year-over-year growth rate of 110%. The firm is expected to report its next quarterly earnings results on Thursday, July 27th.
According to Zacks, analysts expect that First Foundation will report full-year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.85 to $0.92. For the next year, analysts anticipate that the business will post earnings of $1.07 per share, with EPS estimates ranging from $1.02 to $1.12. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover First Foundation.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Monday, April 24th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. First Foundation had a return on equity of 8.37% and a net margin of 17.24%. The company had revenue of $33.84 million for the quarter, compared to the consensus estimate of $33.53 million.
FFWM has been the topic of several research analyst reports. FBR & Co boosted their price target on shares of First Foundation to $16.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 7th. Zacks Investment Research cut shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Thursday, February 23rd. Finally, Piper Jaffray Companies initiated coverage on shares of First Foundation in a research note on Friday, May 12th. They issued a “neutral” rating and a $18.00 price target on the stock.
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Shares of First Foundation (NASDAQ:FFWM) opened at 15.82 on Friday. The stock has a market cap of $527.47 million, a P/E ratio of 20.57 and a beta of 0.53. First Foundation has a 12 month low of $10.01 and a 12 month high of $17.26. The company has a 50 day moving average price of $15.89 and a 200-day moving average price of $15.10.
In other news, Director Jacob Sonenshine sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $16.65, for a total value of $166,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John Michel sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $16.47, for a total transaction of $494,100.00. Following the completion of the sale, the chief financial officer now owns 83,291 shares in the company, valued at $1,371,802.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,668 shares of company stock worth $1,289,172. Insiders own 22.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in shares of First Foundation during the fourth quarter valued at approximately $1,352,000. FMR LLC increased its position in shares of First Foundation by 25.0% in the fourth quarter. FMR LLC now owns 622,047 shares of the bank’s stock valued at $17,728,000 after buying an additional 124,282 shares during the last quarter. Banc Funds Co. LLC increased its position in shares of First Foundation by 28.0% in the third quarter. Banc Funds Co. LLC now owns 305,590 shares of the bank’s stock valued at $7,539,000 after buying an additional 66,890 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of First Foundation during the fourth quarter valued at approximately $4,754,000. Finally, Castine Capital Management LLC increased its position in shares of First Foundation by 28.3% in the fourth quarter. Castine Capital Management LLC now owns 203,527 shares of the bank’s stock valued at $5,800,000 after buying an additional 44,861 shares during the last quarter. Institutional investors own 29.05% of the company’s stock.
About First Foundation
First Foundation Inc is a financial services holding company that 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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