Analysts Anticipate First Foundation Inc (FFWM) Will Announce Quarterly Sales of $43.15 Million

Brokerages forecast that First Foundation Inc (NASDAQ:FFWM) will post $43.15 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for First Foundation’s earnings, with the lowest sales estimate coming in at $41.56 million and the highest estimate coming in at $44.00 million. First Foundation posted sales of $33.84 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, April 23rd.

According to Zacks, analysts expect that First Foundation will report full year sales of $43.15 million for the current financial year, with estimates ranging from $190.31 million to $204.30 million. For the next fiscal year, analysts anticipate that the company will report sales of $237.15 million per share, with estimates ranging from $228.06 million to $253.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. First Foundation had a net margin of 15.71% and a return on equity of 10.92%. The company had revenue of $42.60 million during the quarter, compared to analyst estimates of $40.94 million.

Several equities research analysts recently commented on FFWM shares. TheStreet raised shares of First Foundation from a “c-” rating to a “b-” rating in a research report on Tuesday, October 31st. Zacks Investment Research raised shares of First Foundation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, October 27th. B. Riley reissued a “buy” rating and set a $22.00 price target (down from $23.00) on shares of First Foundation in a research report on Thursday, February 1st. Piper Jaffray Companies reissued a “hold” rating and set a $20.00 price target on shares of First Foundation in a research report on Tuesday, January 9th. Finally, BidaskClub raised shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.70.

In related news, Director Max Briggs sold 5,305 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.11, for a total value of $101,378.55. Following the transaction, the director now owns 6,415 shares in the company, valued at approximately $122,590.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,305 shares of company stock worth $664,279. 18.50% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of First Foundation during the 3rd quarter worth approximately $117,000. Teton Advisors Inc. bought a new stake in shares of First Foundation during the 3rd quarter worth approximately $182,000. Teacher Retirement System of Texas bought a new stake in shares of First Foundation during the 4th quarter worth approximately $194,000. Citadel Advisors LLC bought a new stake in shares of First Foundation during the 3rd quarter worth approximately $221,000. Finally, OxFORD Asset Management LLP lifted its holdings in shares of First Foundation by 5.0% during the 2nd quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock worth $265,000 after acquiring an additional 772 shares during the period. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Shares of First Foundation (NASDAQ:FFWM) traded down $0.31 during mid-day trading on Monday, hitting $17.86. 72,121 shares of the stock traded hands, compared to its average volume of 154,113. First Foundation has a one year low of $14.67 and a one year high of $19.84. The firm has a market cap of $693.47, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.66. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24.

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About First Foundation

First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.

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

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