Zacks: Brokerages Anticipate First Foundation Inc (NASDAQ:FFWM) to Post $0.31 Earnings Per Share

Equities analysts predict that First Foundation Inc (NASDAQ:FFWM) will announce earnings of $0.31 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for First Foundation’s earnings. First Foundation also posted earnings of $0.31 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that First Foundation will report full year earnings of $1.23 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.23. For the next year, analysts anticipate that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.50. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for First Foundation.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $57.11 million for the quarter, compared to analysts’ expectations of $56.83 million. First Foundation had a return on equity of 9.52% and a net margin of 19.41%.

Several equities analysts have recently weighed in on FFWM shares. BidaskClub cut First Foundation from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, ValuEngine cut First Foundation from a “sell” rating to a “strong sell” rating in a report on Friday.

Shares of NASDAQ FFWM traded down $0.21 during midday trading on Friday, hitting $16.75. 102,311 shares of the stock traded hands, compared to its average volume of 72,757. The firm has a 50-day moving average of $16.24 and a two-hundred day moving average of $14.72. The firm has a market capitalization of $739.47 million, a P/E ratio of 14.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.88 and a current ratio of 0.98. First Foundation has a one year low of $11.79 and a one year high of $17.05.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. First Foundation’s payout ratio is 17.09%.

In other news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.54, for a total transaction of $165,400.00. Following the transaction, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $330,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Michel sold 5,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $15.74, for a total value of $78,700.00. Following the transaction, the chief financial officer now directly owns 37,000 shares in the company, valued at $582,380. The disclosure for this sale can be found here. Insiders have sold a total of 82,937 shares of company stock worth $1,356,902 over the last three months. Insiders own 13.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY increased its stake in shares of First Foundation by 29.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,018 shares of the bank’s stock worth $214,000 after purchasing an additional 3,175 shares in the last quarter. Millennium Management LLC increased its stake in shares of First Foundation by 121.4% in the 3rd quarter. Millennium Management LLC now owns 308,825 shares of the bank’s stock worth $4,717,000 after purchasing an additional 169,325 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of First Foundation by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 60,925 shares of the bank’s stock worth $931,000 after purchasing an additional 728 shares in the last quarter. First Trust Advisors LP increased its stake in shares of First Foundation by 257.1% in the 3rd quarter. First Trust Advisors LP now owns 114,052 shares of the bank’s stock worth $1,742,000 after purchasing an additional 82,110 shares in the last quarter. Finally, Creative Planning increased its stake in shares of First Foundation by 34.9% in the 3rd quarter. Creative Planning now owns 19,309 shares of the bank’s stock worth $295,000 after purchasing an additional 5,000 shares in the last quarter. 59.20% of the stock is currently owned by hedge funds and other institutional investors.

About First Foundation

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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