First Foundation Inc (NASDAQ:FFWM) – B. Riley dropped their Q2 2018 earnings per share (EPS) estimates for shares of First Foundation in a note issued to investors on Tuesday, June 19th. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $0.30 for the quarter, down from their prior forecast of $0.31. B. Riley also issued estimates for First Foundation’s FY2018 earnings at $1.19 EPS and Q3 2019 earnings at $0.41 EPS.
First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Tuesday, April 24th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.03). First Foundation had a net margin of 16.05% and a return on equity of 10.22%. The company had revenue of $43.25 million during the quarter, compared to the consensus estimate of $43.15 million.
Other equities research analysts have also issued reports about the company. TheStreet upgraded First Foundation from a “c+” rating to a “b” rating in a research note on Monday, March 19th. BidaskClub downgraded First Foundation from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 12th. Sandler O’Neill reissued a “buy” rating on shares of First Foundation in a report on Thursday, March 29th. DA Davidson boosted their target price on First Foundation from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 11th. Finally, Zacks Investment Research raised First Foundation from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $21.60.
FFWM stock opened at $20.04 on Thursday. First Foundation has a 1-year low of $15.90 and a 1-year high of $20.43. The company has a market capitalization of $781.18 million, a PE ratio of 19.41, a P/E/G ratio of 2.39 and a beta of 0.74. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.11 and a current ratio of 1.15.
In other First Foundation news, Director Gerald L. Larsen sold 22,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $18.61, for a total transaction of $409,420.00. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $409,420. The transaction 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 on Monday, April 2nd. The stock was sold at an average price of $18.24, for a total value of $182,400.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at approximately $364,800. The disclosure for this sale can be found here. Insiders sold a total of 94,500 shares of company stock worth $1,792,845 over the last three months. 18.50% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Basswood Capital Management L.L.C. lifted its holdings in First Foundation by 6.0% during the 4th quarter. Basswood Capital Management L.L.C. now owns 2,072,115 shares of the bank’s stock worth $38,417,000 after buying an additional 118,108 shares in the last quarter. BlackRock Inc. lifted its holdings in First Foundation by 0.6% during the 1st quarter. BlackRock Inc. now owns 1,621,607 shares of the bank’s stock worth $30,063,000 after buying an additional 9,902 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in First Foundation by 23.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,213,488 shares of the bank’s stock worth $22,499,000 after buying an additional 231,698 shares in the last quarter. Banc Funds Co. LLC lifted its holdings in First Foundation by 25.2% during the 4th quarter. Banc Funds Co. LLC now owns 1,125,099 shares of the bank’s stock worth $20,859,000 after buying an additional 226,326 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in First Foundation by 2.7% during the 4th quarter. Deutsche Bank AG now owns 837,316 shares of the bank’s stock worth $15,521,000 after buying an additional 21,752 shares in the last quarter. 60.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for First Foundation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Foundation and related companies with MarketBeat.com's FREE daily email newsletter.