Zacks: Brokerages Expect First Foundation Inc (FFWM) Will Post Quarterly Sales of $40.96 Million

Equities analysts predict that First Foundation Inc (NASDAQ:FFWM) will report $40.96 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 $40.07 million to $41.80 million. First Foundation reported sales of $32.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.7%. The company is expected to issue its next earnings report on Monday, February 5th.

According to Zacks, analysts expect that First Foundation will report full-year sales of $40.96 million for the current year, with estimates ranging from $150.06 million to $151.60 million. For the next financial year, analysts forecast that the company will report sales of $203.60 million per share, with estimates ranging from $196.70 million to $210.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM) last released its earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.83 million. First Foundation had a return on equity of 10.32% and a net margin of 19.62%.

A number of research analysts have recently commented on FFWM shares. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. TheStreet upgraded First Foundation from a “c-” rating to a “b-” rating in a research note on Tuesday, October 31st. Finally, ValuEngine cut First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.88.

First Foundation (FFWM) traded down $0.01 on Wednesday, hitting $18.41. The stock had a trading volume of 97,788 shares, compared to its average volume of 104,850. The stock has a market cap of $648.60, a PE ratio of 20.01, a PEG ratio of 2.01 and a beta of 0.66. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. First Foundation has a 52 week low of $13.64 and a 52 week high of $19.84.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $19.23, for a total value of $192,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.50% of the company’s stock.

A number of large investors have recently made changes to their positions in FFWM. SG Americas Securities LLC purchased a new position in First Foundation during the third quarter valued at $117,000. Teton Advisors Inc. purchased a new position in First Foundation during the third quarter valued at $182,000. Citadel Advisors LLC purchased a new position in First Foundation during the third quarter valued at $221,000. Marshall Wace North America L.P. purchased a new position in First Foundation during the second quarter valued at $230,000. Finally, OxFORD Asset Management LLP raised its stake in First Foundation by 5.0% during the second quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock valued at $265,000 after buying an additional 772 shares during the last quarter. Institutional investors and hedge funds own 50.28% of the company’s stock.

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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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