Foundation capital

$92.41 million in sales expected for First Foundation Inc. (NASDAQ:FFWM) this quarter


Wall Street brokers expect First Foundation Inc. (NASDAQ:FFWM – Get Rating) to post sales of $92.41 million for the current quarter, reports Zacks Investment Research. Four analysts have released earnings estimates for First Foundation, with estimates ranging from $90.20 million to $95.12 million. First Foundation recorded sales of $71.95 million in the same quarter last year, which would indicate a positive growth rate of 28.4% year over year. The company is due to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect First Foundation to report annual sales of $375.88 million for the current 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 average based on a survey of research firms that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM – Get Rating) last released its 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 net margin of 34.58% and a return on equity of 12.94%. In the same quarter a year earlier, the company posted EPS of $0.50.

FFWM has been the subject of a number of research analyst reports. StockNews.com began covering First Foundation stocks in a report on Thursday, March 31. They issued a “holding” rating on the stock. Stephens began covering First Foundation stocks in a research report on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 on the stock. B. Riley lowered his price target on First Foundation from $34.00 to $31.00 in a Tuesday, April 12 research note. Finally, Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 research note. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat.com, the company has a consensus buy rating and an average target price of $31.00.

A number of institutional investors have recently bought and sold shares of FFWM. FMR LLC increased its position in First Foundation by 6.6% during the first quarter. FMR LLC now owns 4,000,694 shares of the bank worth $54,289,000 after purchasing an additional 247,100 shares in the last quarter. BlackRock Inc. increased its equity stake in First Foundation by 22.1% in the first quarter. BlackRock Inc. now owns 3,817,772 shares of the bank valued at $92,735,000 after purchasing an additional 691,494 shares in the last quarter. Vanguard Group Inc. increased its equity stake in First Foundation by 26.0% in the first quarter. Vanguard Group Inc. now owns 2,506,062 shares of the bank valued at $60,872,000 after purchasing an additional 517,634 shares in the last quarter. GMT Capital Corp increased its stake in First Foundation by 28.7% during the first quarter. GMT Capital Corp now owns 2,208,381 shares of the bank worth $53,642,000 after acquiring an additional 492,399 shares in the last quarter. Finally, State Street Corp increased its stake in First Foundation by 25.0% during the first quarter. State Street Corp now owns 1,341,747 shares of the bank worth $32,591,000 after acquiring an additional 267,995 shares in the last quarter. 60.50% of the shares are currently held by hedge funds and other institutional investors.

Shares of FFWM opened at $22.26 on Friday. First Foundation has a one-year minimum of $20.90 and a one-year maximum of $29.41. The stock has a market capitalization of $1.26 billion, a P/E ratio of 9.01 and a beta of 1.22. The company has a fifty-day moving average price of $23.04 and a two-hundred-day moving average price of $25.17. 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 announced a quarterly dividend, which was paid on Monday, May 16. Investors of record on Friday, May 6 received a dividend of $0.11 per share. This represents an annualized dividend of $0.44 and a yield of 1.98%. 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 .

Further reading

Get a Free Copy of Zacks Research Report on First Foundation (FFWM)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for First Foundation (NASDAQ:FFWM)



Get news and reviews for First Foundation Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for First Foundation and related companies with MarketBeat.com’s FREE daily email newsletter.