First Foundation Inc. Forecasted to Post Q4 2017 Earnings of $0.24 Per Share (FFWM)

First Foundation Inc. (NASDAQ:FFWM) – FBR & Co decreased their Q4 2017 earnings estimates for shares of First Foundation in a research report issued to clients and investors on Thursday. FBR & Co analyst S. Moss now expects that the bank will earn $0.24 per share for the quarter, down from their prior forecast of $0.27. FBR & Co has a “Buy” rating and a $21.00 price objective on the stock.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.07. The business had revenue of $37.59 million during the quarter, compared to the consensus estimate of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 11.09%.

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FFWM has been the topic of several other research reports. DA Davidson reaffirmed a “buy” rating and issued a $19.50 price target on shares of First Foundation in a report on Monday, June 19th. Zacks Investment Research raised shares of First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, April 25th. BidaskClub downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, TheStreet raised shares of First Foundation from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.13.

Shares of First Foundation (NASDAQ:FFWM) traded down 0.23% during mid-day trading on Monday, hitting $17.30. 42,766 shares of the stock were exchanged. The company has a 50-day moving average of $16.57 and a 200 day moving average of $15.87. The stock has a market cap of $590.85 million, a PE ratio of 18.25 and a beta of 0.63. First Foundation has a one year low of $11.15 and a one year high of $18.16.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock worth $127,000 after buying an additional 4,112 shares in the last quarter. Bank of Montreal Can bought a new position in First Foundation during the first quarter worth $138,000. Alliancebernstein L.P. bought a new position in First Foundation during the first quarter worth $192,000. Hollencrest Securities LLC bought a new position in First Foundation during the second quarter worth $207,000. Finally, Citadel Advisors LLC increased its position in First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock worth $217,000 after buying an additional 496 shares in the last quarter. 51.34% of the stock is currently owned by institutional investors.

In related news, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $16.38, for a total transaction of $163,800.00. Following the transaction, the chairman now owns 20,000 shares of the company’s stock, valued at $327,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Michel sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the transaction, the chief financial officer now directly owns 83,291 shares in the company, valued at approximately $1,371,802.77. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $809,800 in the last three months. Insiders own 18.50% of the company’s stock.

About First Foundation

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.

Earnings History and Estimates for First Foundation (NASDAQ:FFWM)

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