Wall Street analysts predict that First Foundation Inc (NASDAQ:FFWM) will announce $43.15 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for First Foundation’s earnings, with the lowest sales estimate coming in at $41.56 million and the highest estimate coming in at $44.00 million. First Foundation reported sales of $33.84 million during the same quarter last year, which would suggest a positive year over year growth rate of 27.5%. The company is expected to announce its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that First Foundation will report full-year sales of $43.15 million for the current financial year, with estimates ranging from $190.31 million to $204.30 million. For the next financial year, analysts anticipate that the firm will post sales of $237.15 million per share, with estimates ranging from $228.06 million to $253.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow First Foundation.
First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. First Foundation had a return on equity of 10.92% and a net margin of 15.71%. The business had revenue of $42.60 million for the quarter, compared to the consensus estimate of $40.94 million.
In other First Foundation news, Director Max Briggs sold 24,695 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $19.00, for a total value of $469,205.00. Following the completion of the sale, the director now owns 11,101 shares of the company’s stock, valued at $210,919. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Hakopian sold 10,800 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $18.78, for a total value of $202,824.00. Following the completion of the sale, the insider now directly owns 33,200 shares of the company’s stock, valued at approximately $623,496. The disclosure for this sale can be found here. Insiders sold 123,791 shares of company stock valued at $2,305,802 in the last ninety days. Insiders own 18.50% of the company’s stock.
Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of First Foundation by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock worth $362,000 after buying an additional 1,165 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of First Foundation by 9.0% during the 2nd quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock worth $349,000 after purchasing an additional 1,749 shares during the last quarter. Cadence Capital Management LLC lifted its position in shares of First Foundation by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 96,925 shares of the bank’s stock worth $1,734,000 after purchasing an additional 4,661 shares during the last quarter. Swiss National Bank lifted its position in shares of First Foundation by 11.8% during the 4th quarter. Swiss National Bank now owns 52,000 shares of the bank’s stock worth $964,000 after purchasing an additional 5,500 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of First Foundation by 8.6% during the 4th quarter. First Trust Advisors LP now owns 72,230 shares of the bank’s stock worth $1,339,000 after purchasing an additional 5,700 shares during the last quarter. 54.15% of the stock is owned by institutional investors.
Shares of First Foundation (NASDAQ FFWM) traded up $0.01 during mid-day trading on Friday, hitting $19.12. The stock had a trading volume of 177,418 shares, compared to its average volume of 156,745. First Foundation has a twelve month low of $14.67 and a twelve month high of $19.84. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $733.21, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73.
First Foundation Company Profile
First Foundation Inc is a financial services holding company that provides a platform of personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations. The Company conducts its operations through its subsidiaries, First Foundation Advisors (FFA) and First Foundation Bank (FFB), and First Foundation Insurance Services (FFIS), a subsidiary of FFB.
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