First Foundation (FFWM) to Release Earnings on Tuesday

First Foundation (NASDAQ:FFWMGet Rating) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 26th. Analysts expect First Foundation to post earnings of $0.51 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

First Foundation (NASDAQ:FFWMGet Rating) last issued its earnings results on Monday, January 31st. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.11. The business had revenue of $75.79 million for the quarter, compared to analyst estimates of $74.40 million. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, analysts expect First Foundation to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ FFWM opened at $23.25 on Tuesday. First Foundation has a 12-month low of $20.30 and a 12-month high of $29.41. The firm has a market cap of $1.31 billion, a PE ratio of 9.61 and a beta of 1.24. The company’s fifty day simple moving average is $25.19 and its 200 day simple moving average is $26.08. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 0.20.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 17th. Shareholders of record on Thursday, February 10th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from First Foundation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, February 9th. First Foundation’s dividend payout ratio (DPR) is 18.18%.

In other news, Director Diane M. Rubin purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The shares were bought at an average cost of $26.53 per share, with a total value of $26,530.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in First Foundation by 3,159.1% during the second quarter. Morgan Stanley now owns 20,304 shares of the bank’s stock worth $456,000 after buying an additional 19,681 shares during the last quarter. LPL Financial LLC increased its holdings in First Foundation by 34.0% during the third quarter. LPL Financial LLC now owns 14,500 shares of the bank’s stock worth $381,000 after buying an additional 3,679 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in First Foundation during the third quarter worth about $240,000. BNP Paribas Arbitrage SA increased its holdings in First Foundation by 118.6% during the third quarter. BNP Paribas Arbitrage SA now owns 11,301 shares of the bank’s stock worth $297,000 after buying an additional 6,132 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in First Foundation by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 225,979 shares of the bank’s stock worth $5,944,000 after buying an additional 9,461 shares during the last quarter. 69.39% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on FFWM. StockNews.com began coverage on shares of First Foundation in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Stephens began coverage on shares of First Foundation in a research note on Wednesday, February 2nd. They issued an “overweight” rating and a $32.00 price objective on the stock. Zacks Investment Research raised shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Thursday, February 3rd. Finally, B. Riley dropped their price objective on shares of First Foundation from $34.00 to $31.00 in a research note on Tuesday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.00.

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.

Further Reading

Earnings History for First Foundation (NASDAQ:FFWM)

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