Brokerages Expect First Foundation Inc (NASDAQ:FFWM) to Announce $0.32 EPS

Equities research analysts predict that First Foundation Inc (NASDAQ:FFWM) will report earnings per share of $0.32 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Foundation’s earnings, with estimates ranging from $0.31 to $0.33. First Foundation posted earnings per share of $0.31 during the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, January 29th.

On average, analysts expect that First Foundation will report full year earnings of $1.22 per share for the current financial year, with EPS estimates ranging from $1.20 to $1.23. For the next year, analysts forecast that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover First Foundation.

First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The company 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 9.65% and a net margin of 19.41%.

Several equities research analysts recently weighed in on FFWM shares. Zacks Investment Research upgraded First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday. ValuEngine lowered First Foundation from a “sell” rating to a “strong sell” rating in a research report on Monday, October 21st. Finally, BidaskClub upgraded First Foundation from a “hold” rating to a “buy” rating in a research report on Friday.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banc Funds Co. LLC boosted its position in shares of First Foundation by 6.2% during the second quarter. Banc Funds Co. LLC now owns 1,439,601 shares of the bank’s stock valued at $19,348,000 after purchasing an additional 83,991 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of First Foundation during the second quarter valued at approximately $374,000. Aperio Group LLC bought a new stake in shares of First Foundation during the second quarter valued at approximately $57,000. Acadian Asset Management LLC boosted its position in shares of First Foundation by 60.9% during the second quarter. Acadian Asset Management LLC now owns 137,477 shares of the bank’s stock valued at $1,848,000 after purchasing an additional 52,015 shares in the last quarter. Finally, Context BH Capital Management LP boosted its position in shares of First Foundation by 34.1% during the second quarter. Context BH Capital Management LP now owns 332,726 shares of the bank’s stock valued at $4,472,000 after purchasing an additional 84,671 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Shares of NASDAQ FFWM traded down $0.14 during trading hours on Tuesday, reaching $15.59. 78,900 shares of the stock traded hands, compared to its average volume of 122,901. The company has a quick ratio of 0.97, a current ratio of 1.10 and a debt-to-equity ratio of 1.50. First Foundation has a 52-week low of $11.79 and a 52-week high of $16.66. The company has a market capitalization of $702.14 million, a P/E ratio of 13.32 and a beta of 0.87. The company’s 50-day simple moving average is $14.98 and its two-hundred day simple moving average is $14.20.

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

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