$57.84 Million in Sales Expected for First Foundation Inc (NASDAQ:FFWM) This Quarter

Brokerages predict that First Foundation Inc (NASDAQ:FFWM) will report sales of $57.84 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for First Foundation’s earnings. The lowest sales estimate is $57.20 million and the highest is $59.50 million. First Foundation posted sales of $54.83 million in the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The company is expected to issue its next quarterly earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that First Foundation will report full year sales of $212.29 million for the current fiscal year, with estimates ranging from $211.30 million to $213.80 million. For the next financial year, analysts anticipate that the business will post sales of $232.80 million, with estimates ranging from $229.68 million to $234.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First Foundation.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Wednesday, July 24th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. First Foundation had a return on equity of 9.35% and a net margin of 18.97%. The business had revenue of $51.02 million during the quarter, compared to analysts’ expectations of $50.43 million.

A number of equities analysts have commented on the company. BidaskClub raised First Foundation from a “sell” rating to a “hold” rating in a report on Friday, June 28th. ValuEngine raised First Foundation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.00.

Several large investors have recently bought and sold shares of FFWM. Phocas Financial Corp. acquired a new stake in shares of First Foundation in the second quarter valued at approximately $42,000. Royal Bank of Canada increased its holdings in shares of First Foundation by 565.5% in the second quarter. Royal Bank of Canada now owns 3,088 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,624 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of First Foundation in the first quarter valued at approximately $43,000. Bank of Montreal Can acquired a new stake in shares of First Foundation in the second quarter valued at approximately $44,000. Finally, Aperio Group LLC acquired a new stake in shares of First Foundation in the second quarter valued at approximately $57,000. 60.29% of the stock is owned by hedge funds and other institutional investors.

Shares of First Foundation stock remained flat at $$15.15 during mid-day trading on Friday. The company’s stock had a trading volume of 64,577 shares, compared to its average volume of 95,323. The company has a fifty day moving average price of $14.35 and a 200-day moving average price of $14.04. First Foundation has a fifty-two week low of $11.79 and a fifty-two week high of $16.89. The stock has a market capitalization of $676.30 million, a PE ratio of 12.95, a PEG ratio of 1.72 and a beta of 0.86. The company has a quick ratio of 0.97, a current ratio of 1.10 and a debt-to-equity ratio of 1.50.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.32%. First Foundation’s dividend payout ratio is presently 17.09%.

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 certificates of deposit; and loan products consisting of multifamily 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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Earnings History and Estimates for First Foundation (NASDAQ:FFWM)

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