Stock analysts expect First Foundation Inc. (NASDAQ:FFWM – Get Rating) to report earnings of $0.55 per share for the current quarter, reports Zacks Investment Research. Four analysts have made earnings estimates for First Foundation, with the highest EPS estimate of $0.58 and the lowest estimate of $0.50. First Foundation reported earnings of $0.58 per share in the same quarter last year, which would indicate a negative 5.2% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect First Foundation to report annual earnings of $2.29 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.38. For next year, analysts expect the company to post earnings of $2.60 per share, with EPS estimates ranging from $2.40 to $2.80. Zacks Investment Research EPS averages are an average average based on a survey of research companies that track First Foundation.
First Foundation (NASDAQ:FFWM – Get Rating) last reported quarterly earnings data on Tuesday, April 26. The bank reported earnings per share (EPS) of $0.55 for the quarter, beating the consensus estimate of $0.51 by $0.04. First Foundation had a return on equity of 12.94% and a net margin of 34.58%. During the same period of the previous year, the company achieved EPS of $0.50.
Several analysts have recently released reports on the company. B. Riley reduced his price target on First Foundation from $34.00 to $31.00 in a Tuesday, April 12 research note. StockNews.com supported First Foundation’s coverage in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Stephens assumed coverage for First Foundation in a research note on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 on the stock. Finally, Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 research note. Two analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.00.
Hedge funds have recently changed their stakes in the company. Andrew Hill Investment Advisors Inc. bought a new position in First Foundation stock during the fourth quarter worth approximately $48,000. Prospera Financial Services Inc bought a new position in First Foundation stock during the first quarter worth approximately $84,000. Ameritas Investment Partners Inc. increased its holdings of First Foundation shares by 23.8% in the first quarter. Ameritas Investment Partners Inc. now owns 3,883 shares of the bank worth $94,000 after buying 747 additional shares in the last quarter. Acadian Asset Management LLC purchased a new position in First Foundation stock during the fourth quarter worth approximately $165,000. Finally, Brookmont Capital Management increased its equity stake in First Foundation by 6.7% during the fourth quarter. Brookmont Capital Management now owns 8,361 shares of the bank worth $208,000 after buying 526 additional shares in the last quarter. 60.50% of the shares are currently held by institutional investors.
Shares of NASDAQ FFWM traded down $0.35 during the midday session on Wednesday, hitting $21.66. The company had a trading volume of 311,599 shares, compared to an average volume of 303,394. The company has a market capitalization of $1.22 billion, a PE ratio of 8.77 and a beta of 1.22. The company has a debt ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.91. First Foundation has a 1-year minimum of $20.90 and a 1-year maximum of $29.41. The company’s 50-day simple moving average is $23.09 and its 200-day simple moving average is $25.22.
The company also recently declared a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, May 6 received a dividend of $0.11. This represents a dividend of $0.44 on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, May 5. First Foundation’s dividend payout ratio is currently 17.81%.
About First Foundation (Get a rating)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking 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 promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family 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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