Equity research analysts expect First Foundation Inc. (NASDAQ:FFWM – Get Rating) to report sales of $89.23 million for the current fiscal quarter, reports Zacks Investment Research. Four analysts provided earnings estimates for First Foundation, with the lowest sales estimate of $88.20 million and the highest estimate of $90.80 million. First Foundation recorded sales of $66.14 million in the same quarter last year, suggesting a positive year-over-year growth rate of 34.9%. The company is due to release its next results on Monday, January 1.
According to Zacks, analysts expect First Foundation to report annual sales of $375.68 million for the current fiscal year, with estimates ranging from $364.50 to $385.50 million. For the next fiscal year, analysts expect the company to post sales of $409.73 million, with estimates ranging from $387.30 million to $430.51 million. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research analysts who track First Foundation.
First Foundation (NASDAQ:FFWM – Get Rating) last announced its results on Monday, January 31. The bank reported earnings per share (EPS) of $0.51 for the quarter, beating consensus analyst estimates of $0.40 by $0.11. First Foundation had a return on equity of 13.36% and a net margin of 34.47%. The company posted revenue of $75.79 million for the quarter, versus analyst estimates of $74.40 million. In the same quarter of the previous year, the company had earned earnings per share of $0.50.
Several research companies have recently published reports on FFWM. Stephens began covering First Foundation in a research report on Wednesday, February 2. They set an “overweight” rating and a price target of $32.00 for the company. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 research report.
In addition, director Diane M. Rubin acquired 1,000 shares of the company in a transaction that took place on Monday, February 7. The shares were purchased at an average price of $26.53 per share, with a total value of $26,530.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.90% of the company’s shares.
Several hedge funds have recently bought and sold shares of FFWM. Brookmont Capital Management increased its stake in First Foundation shares by 6.7% during the fourth quarter. Brookmont Capital Management now owns 8,361 shares of the bank worth $208,000 after buying 526 more shares last quarter. UBS Asset Management Americas Inc. increased its holdings in First Foundation by 3.0% in the third quarter. UBS Asset Management Americas Inc. now owns 20,424 shares of the bank worth $537,000 after purchasing an additional 603 shares during the period. Deutsche Bank AG increased its stake in First Foundation by 2.9% during the fourth quarter. Deutsche Bank AG now owns 27,626 shares of the bank valued at $687,000 after buying an additional 767 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings of First Foundation stock by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 36,527 shares of the bank worth $822,000 after purchasing an additional 818 shares during the period. Finally, First Trust Advisors LP raised its position in First Foundation shares by 6.7% in the fourth quarter. First Trust Advisors LP now owns 21,015 shares of the bank worth $522,000 after buying 1,314 more shares in the last quarter. Institutional investors and hedge funds hold 69.39% of the company’s shares.
The Foundation’s first shares opened at $25.41 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt ratio of 0.20. First Foundation has a 52-week minimum of $20.30 and a 52-week maximum of $29.41. The company has a market capitalization of $1.43 billion, a PE ratio of 10.50 and a beta of 1.27. The company’s 50-day moving average is $25.97 and its two-hundred-day moving average is $26.23.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 17. Investors of record on Thursday, February 10 received a dividend of $0.11 per share. This is a boost from First Foundation’s previous quarterly dividend of $0.09. This represents an annualized dividend of $0.44 and a yield of 1.73%. The ex-dividend date was Wednesday, February 9. First Foundation’s dividend payout ratio is currently 18.18%.
First Foundation Company Profile (Get an evaluation)
First Foundation, Inc is a bank holding company that provides a comprehensive platform of financial services to individuals, businesses and organizations. It operates through the following segments: Banking and Wealth Management. The company was founded by John Avak Hakopian and Ulrich Emanuel Keller, Jr.
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