Wall Street brokerages expect that First Foundation Inc. (NASDAQ:FFWM – Get Rating) will report earnings of $0.51 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Foundation’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.52. First Foundation posted earnings of $0.50 per share during the same quarter last year, which suggests a positive year over year growth rate of 2%. The company is expected to report its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that First Foundation will report full-year earnings of $2.32 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.45. For the next financial year, analysts anticipate that the company will report earnings of $2.62 per share, with EPS estimates ranging from $2.30 to $2.81. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for First Foundation.
First Foundation (NASDAQ:FFWM – Get Rating) last posted its quarterly earnings results on Monday, January 31st. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.11. First Foundation had a return on equity of 13.36% and a net margin of 34.47%. The firm had revenue of $75.79 million for the quarter, compared to analyst estimates of $74.40 million. During the same period in the previous year, the firm earned $0.50 earnings per share.
First Foundation stock opened at $23.50 on Thursday. First Foundation has a twelve month low of $20.30 and a twelve month high of $29.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.95. The firm has a market cap of $1.33 billion, a PE ratio of 9.71 and a beta of 1.24. The firm’s 50 day moving average price is $25.40 and its two-hundred day moving average price is $26.15.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17th. Stockholders of record on Thursday, February 10th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, February 9th. This is a positive change from First Foundation’s previous quarterly dividend of $0.09. First Foundation’s dividend payout ratio (DPR) is presently 18.18%.
In other First Foundation news, Director Diane M. Rubin acquired 1,000 shares of the company’s stock in a transaction dated Monday, February 7th. The stock was bought at an average price of $26.53 per share, for a total transaction of $26,530.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.90% of the company’s stock.
Large investors have recently modified their holdings of the company. FMR LLC increased its position in shares of First Foundation by 6.6% during the 1st quarter. FMR LLC now owns 4,000,694 shares of the bank’s stock worth $54,289,000 after purchasing an additional 247,100 shares in the last quarter. BlackRock Inc. raised its stake in shares of First Foundation by 5.8% in the fourth quarter. BlackRock Inc. now owns 3,126,278 shares of the bank’s stock valued at $77,719,000 after acquiring an additional 171,563 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of First Foundation by 1.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,598,708 shares of the bank’s stock worth $42,043,000 after acquiring an additional 23,344 shares in the last quarter. Macquarie Group Ltd. grew its position in First Foundation by 1.0% during the 3rd quarter. Macquarie Group Ltd. now owns 1,096,105 shares of the bank’s stock worth $28,828,000 after acquiring an additional 11,023 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in First Foundation by 5.9% during the 3rd quarter. Jennison Associates LLC now owns 1,056,218 shares of the bank’s stock valued at $27,779,000 after purchasing an additional 58,995 shares in the last quarter. Institutional investors own 69.39% of the company’s stock.
First Foundation Company Profile (Get Rating)
First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management 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 order of withdrawal accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.
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