Analysts expect First Foundation Inc. (NASDAQ:FFWM – Get a rating) will report sales of $92.41 million for the current fiscal quarter, Zacks reports. Four analysts made estimates of First Foundation’s earnings. The lowest sales estimate is $90.20 million and the highest is $95.12 million. First Foundation reported sales of $71.95 million in the same quarter last year, indicating a positive growth rate of 28.4% year-over-year. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect First Foundation to report annual sales of $375.88 million for the current fiscal year, with estimates ranging from $366.10 million to $387.22 million. For the next fiscal year, analysts expect the company to post sales of $423.04 million, with estimates ranging from $404.10 million to $447.65 million. Zacks Investment Research sales calculations are an average based on a survey of research analysts who provide coverage for First Foundation.
First Foundation (NASDAQ: FFWM – Get a 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%. In the same quarter of the previous year, the company achieved EPS of $0.50.
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FFWM has been the subject of a number of analyst reports. B. Riley lowered his target price on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 report. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 research report. StockNews.com began covering First Foundation stocks in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Finally, Stephens began covering the actions of First Foundation in a report on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 for the company. Two research analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $31.00.
The Foundation’s first shares opened at $22.26 on Friday. The company has a market capitalization of $1.26 billion, a price-earnings ratio of 9.01 and a beta of 1.22. The company’s fifty-day moving average price is $23.04 and its two-hundred-day moving average price is $25.17. First Foundation has a one-year minimum of $20.90 and a one-year maximum of $29.41. The company has a debt ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.91.
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 1.98%. The ex-dividend date was Thursday, May 5. First Foundation’s dividend payout ratio is currently 17.81%.
Hedge funds have recently changed their stock holdings. 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 acquired a new position in First Foundation during the first quarter worth $84,000. Ameritas Investment Partners Inc. increased its position in First Foundation by 23.8% during 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 acquired a new stake in shares of First Foundation in the fourth quarter valued at approximately $165,000. Finally, Brookmont Capital Management increased its stake in First Foundation shares by 6.7% in the fourth quarter. Brookmont Capital Management now owns 8,361 shares of the bank valued at $208,000 after purchasing an additional 526 shares during the period. 60.50% of the shares are held by hedge funds and other institutional investors.
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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