First Foundation Inc. Expected to Earn Q4 2017 Earnings of $0.24 Per Share (FFWM)
First Foundation Inc. (NASDAQ:FFWM) – Research analysts at FBR & Co lowered their Q4 2017 earnings per share estimates for shares of First Foundation in a research note issued to investors on Thursday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings per share of $0.24 for the quarter, down from their previous estimate of $0.27. FBR & Co has a “Buy” rating and a $21.00 price target on the stock.
Other analysts have also recently issued reports about the stock. DA Davidson restated a “buy” rating and set a $19.50 target price on shares of First Foundation in a research report on Monday, June 19th. ValuEngine upgraded shares of First Foundation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet upgraded shares of First Foundation from a “d” rating to a “c-” rating in a research report on Wednesday, July 26th. BidaskClub cut shares of First Foundation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of First Foundation from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.13.
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First Foundation (NASDAQ:FFWM) traded up 0.17% on Monday, reaching $17.45. The company had a trading volume of 55,578 shares. The stock’s 50 day moving average price is $16.61 and its 200-day moving average price is $15.90. The stock has a market capitalization of $595.97 million, a PE ratio of 18.41 and a beta of 0.65. First Foundation has a 12-month low of $11.15 and a 12-month high of $18.16.
First Foundation (NASDAQ:FFWM) last released its earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The business had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $36.38 million. First Foundation had a return on equity of 11.09% and a net margin of 20.14%.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of First Foundation by 101.4% in the first quarter. Legal & General Group Plc now owns 8,166 shares of the bank’s stock valued at $127,000 after buying an additional 4,112 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of First Foundation during the first quarter valued at approximately $138,000. Alliancebernstein L.P. purchased a new position in shares of First Foundation during the first quarter valued at approximately $192,000. Hollencrest Securities LLC purchased a new position in shares of First Foundation during the second quarter valued at approximately $207,000. Finally, Citadel Advisors LLC increased its position in shares of First Foundation by 3.7% in the first quarter. Citadel Advisors LLC now owns 13,975 shares of the bank’s stock valued at $217,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 51.34% of the company’s stock.
In other news, CFO John Michel sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the sale, the chief financial officer now directly owns 83,291 shares in the company, valued at approximately $1,371,802.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $16.38, for a total transaction of $163,800.00. Following the sale, the chairman now owns 20,000 shares in the company, valued at $327,600. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $809,800 over the last 90 days. Corporate insiders own 18.50% of the company’s stock.
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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