Zacks: Analysts Anticipate First Foundation Inc (FFWM) Will Post Quarterly Sales of $51.00 Million

Analysts predict that First Foundation Inc (NASDAQ:FFWM) will report $51.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for First Foundation’s earnings, with the highest sales estimate coming in at $53.50 million and the lowest estimate coming in at $49.40 million. First Foundation posted sales of $43.25 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.9%. The business is expected to issue its next quarterly earnings results on Tuesday, April 23rd.

According to Zacks, analysts expect that First Foundation will report full year sales of $218.40 million for the current year, with estimates ranging from $214.29 million to $225.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $240.36 million, with estimates ranging from $236.04 million to $248.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow First Foundation.

First Foundation (NASDAQ:FFWM) last issued its quarterly earnings results on Wednesday, January 30th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The company had revenue of $50.07 million during the quarter, compared to analyst estimates of $51.61 million. First Foundation had a net margin of 17.67% and a return on equity of 10.19%.

Several research analysts recently issued reports on the stock. TheStreet upgraded shares of First Foundation from a “c+” rating to a “b-” rating in a research note on Thursday, November 1st. ValuEngine upgraded shares of First Foundation from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. BidaskClub upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Zacks Investment Research lowered shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.25.

Shares of First Foundation stock traded up $0.49 during trading on Friday, hitting $15.50. The company’s stock had a trading volume of 300,000 shares, compared to its average volume of 154,566. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $667.04 million, a price-to-earnings ratio of 13.25, a PEG ratio of 1.70 and a beta of 0.84. First Foundation has a 52 week low of $11.79 and a 52 week high of $20.43.

The company also recently disclosed a special dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, February 28th.

A number of large investors have recently added to or reduced their stakes in FFWM. BlackRock Inc. increased its stake in First Foundation by 21.8% during the 2nd quarter. BlackRock Inc. now owns 1,974,768 shares of the bank’s stock valued at $36,612,000 after purchasing an additional 353,161 shares in the last quarter. Bank of America Corp DE increased its stake in First Foundation by 226.0% during the 2nd quarter. Bank of America Corp DE now owns 62,047 shares of the bank’s stock valued at $1,151,000 after purchasing an additional 43,015 shares in the last quarter. Northern Trust Corp increased its stake in First Foundation by 16.1% during the 2nd quarter. Northern Trust Corp now owns 391,993 shares of the bank’s stock valued at $7,267,000 after purchasing an additional 54,371 shares in the last quarter. Victory Capital Management Inc. increased its stake in First Foundation by 10.4% during the 3rd quarter. Victory Capital Management Inc. now owns 87,900 shares of the bank’s stock valued at $1,373,000 after purchasing an additional 8,250 shares in the last quarter. Finally, Teton Advisors Inc. increased its stake in First Foundation by 378.4% during the 3rd quarter. Teton Advisors Inc. now owns 48,800 shares of the bank’s stock valued at $762,000 after purchasing an additional 38,600 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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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