First foundation (NASDAQ: FFWM – Get a rating) is expected to release its earnings data before the market opens on Tuesday, April 26. Analysts expect First Foundation to post earnings of $0.51 per share for the quarter. Those interested in participating in the company’s earnings conference call can do so using this link.
First Foundation (NASDAQ: FFWM – Get a rating) last released its results on Monday, January 31. The bank reported earnings per share (EPS) of $0.51 for the quarter, beating Thomson Reuters consensus estimate of $0.40 by $0.11. The company posted revenue of $75.79 million for the quarter, versus analyst estimates of $74.40 million. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. During the same period of the previous year, the company made earnings per share of $0.50. On average, analysts expect First Foundation to post EPS of $2 for the current fiscal year and EPS of $3 for the next fiscal year.
Shares of NASDAQ FFWM opened at $23.25 on Tuesday. First Foundation has a 12 month minimum of $20.30 and a 12 month maximum of $29.41. The company has a market capitalization of $1.31 billion, a PE ratio of 9.61 and a beta of 1.24. The company’s fifty-day simple moving average is $25.19 and its 200-day simple moving average is $26.08. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt ratio of 0.20.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Thursday, February 10 received a dividend of $0.11. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 1.89%. This is a positive change from First Foundation’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, February 9. First Foundation’s dividend payout ratio (DPR) is 18.18%.
In other news, Director Diane M. Rubin bought 1,000 shares of the company in a transaction that took place on Monday, February 7. The shares were purchased at an average cost of $26.53 per share, with a total value of $26,530.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. 12.60% of the shares are held by insiders of the company.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Morgan Stanley increased its stake in First Foundation by 3,159.1% during the second quarter. Morgan Stanley now owns 20,304 shares of the bank worth $456,000 after buying an additional 19,681 shares in the last quarter. LPL Financial LLC increased its stake in First Foundation by 34.0% during the third quarter. LPL Financial LLC now owns 14,500 shares of the bank worth $381,000 after buying 3,679 additional shares in the last quarter. Janus Henderson Group PLC purchased a new stake in First Foundation during the third quarter worth approximately $240,000. BNP Paribas Arbitrage SA increased its stake in First Foundation by 118.6% during the third quarter. BNP Paribas Arbitrage SA now owns 11,301 shares in the bank worth $297,000 after buying an additional 6,132 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in First Foundation by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 225,979 shares of the bank worth $5,944,000 after buying 9,461 additional shares in the last quarter. 69.39% of the shares are currently held by institutional investors.
A number of research companies have weighed in on FFWM. StockNews.com began covering First Foundation stocks in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Stephens began covering First Foundation stocks in a research note on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 on the stock. Zacks Investment Research upgraded First Foundation’s shares from a “sell” to a “hold” rating in a Thursday, Feb. 3 research note. Finally, B. Riley lowered his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 research note. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.00.
First Foundation Company Profile (Get a rating)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking services in the United States. It operates through two segments, Banking and Wealth Management. The Company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family 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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