Brokerages Expect First Foundation Inc. (NASDAQ:FFWM) Will Post Quarterly Sales of $64.04 Million


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Equities research analysts predict that First Foundation Inc. (NASDAQ:FFWM) will announce sales of $64.04 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Foundation’s earnings. The lowest sales estimate is $62.00 million and the highest is $65.90 million. First Foundation posted sales of $55.54 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 28th.

On average, analysts expect that First Foundation will report full-year sales of $266.19 million for the current fiscal year, with estimates ranging from $262.94 million to $272.20 million. For the next financial year, analysts forecast that the business will post sales of $279.37 million, with estimates ranging from $266.70 million to $284.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings data on Monday, January 25th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $63.07 million during the quarter, compared to analyst estimates of $60.69 million. First Foundation had a return on equity of 12.10% and a net margin of 25.59%.

Several equities analysts have recently issued reports on FFWM shares. TheStreet raised First Foundation from a “c” rating to a “b-” rating in a report on Monday, November 16th. Raymond James upped their target price on First Foundation from $19.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, January 27th. B. Riley upped their target price on First Foundation from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, January 7th. Finally, Zacks Investment Research lowered First Foundation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. First Foundation presently has a consensus rating of “Buy” and a consensus price target of $19.60.

Shares of FFWM stock traded up $0.63 during trading on Tuesday, hitting $23.35. The company’s stock had a trading volume of 148,406 shares, compared to its average volume of 132,692. The company has a market cap of $1.04 billion, a PE ratio of 13.48 and a beta of 1.54. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $21.21 and a 200-day moving average of $17.55. First Foundation has a 52 week low of $8.01 and a 52 week high of $23.49.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 15th. Shareholders of record on Friday, February 5th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.54%. This is a positive change from First Foundation’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, February 4th. First Foundation’s dividend payout ratio is 28.80%.

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 15,715 shares of the stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $18.95, for a total transaction of $297,799.25. Following the sale, the chairman now owns 20,000 shares in the company, valued at $379,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the stock in a transaction on Friday, December 11th. The stock was sold at an average price of $18.92, for a total value of $473,000.00. Following the sale, the chairman now owns 20,000 shares in the company, valued at approximately $378,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,715 shares of company stock valued at $965,799. 13.90% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of First Foundation by 6.6% during the first quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock worth $54,289,000 after acquiring an additional 247,100 shares in the last quarter. BlackRock Inc. lifted its position in shares of First Foundation by 3.5% during the fourth quarter. BlackRock Inc. now owns 2,966,011 shares of the bank’s stock worth $59,320,000 after acquiring an additional 101,491 shares in the last quarter. Jennison Associates LLC lifted its position in shares of First Foundation by 16.2% during the fourth quarter. Jennison Associates LLC now owns 1,706,221 shares of the bank’s stock worth $34,124,000 after acquiring an additional 238,315 shares in the last quarter. State Street Corp lifted its position in shares of First Foundation by 0.9% during the third quarter. State Street Corp now owns 885,462 shares of the bank’s stock worth $11,573,000 after acquiring an additional 8,047 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in shares of First Foundation by 12.6% during the fourth quarter. Kennedy Capital Management Inc. now owns 711,900 shares of the bank’s stock worth $14,238,000 after acquiring an additional 79,768 shares in the last quarter. Hedge funds and other institutional investors own 61.20% of the company’s stock.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking, and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.

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Earnings History and Estimates for First Foundation (NASDAQ:FFWM)

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