First Foundation Inc. (NASDAQ:FFWM) - Equities research analysts at FBR & Co boosted their Q4 2017 EPS estimates for First Foundation in a report released on Monday. FBR & Co analyst S. Moss now anticipates that the bank will earn $0.27 per share for the quarter, up from their previous forecast of $0.26. FBR & Co has a “Buy” rating and a $21.00 price objective on the stock. FBR & Co also issued estimates for First Foundation’s Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.20 EPS.
First Foundation (NASDAQ:FFWM) last announced its quarterly earnings data on Monday, April 24th. The bank reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. First Foundation had a net margin of 17.72% and a return on equity of 8.99%. The firm had revenue of $33.84 million during the quarter, compared to analyst estimates of $33.53 million. WARNING: This report was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://stocknewstimes.com/2017/08/06/fbr-co-brokers-lift-earnings-estimates-for-first-foundation-inc-nasdaqffwm-updated-updated.html.
Several other research analysts also recently weighed in on FFWM. Zacks Investment Research downgraded shares of First Foundation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. ValuEngine raised shares of First Foundation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. DA Davidson reissued a “buy” rating and issued a $19.50 target price on shares of First Foundation in a research note on Monday, June 19th. Finally, Piper Jaffray Companies began coverage on shares of First Foundation in a research note on Friday, May 12th. They issued a “neutral” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $19.13.
Shares of First Foundation (NASDAQ:FFWM) traded down 0.72% during midday trading on Tuesday, hitting $16.50. 18,197 shares of the company were exchanged. The company has a 50-day moving average price of $16.23 and a 200-day moving average price of $15.70. The stock has a market capitalization of $550.14 million, a price-to-earnings ratio of 21.46 and a beta of 0.64. First Foundation has a 52-week low of $11.02 and a 52-week high of $17.26.
In other First Foundation news, CFO John Michel sold 20,000 shares of First Foundation stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $15.86, for a total value of $317,200.00. Following the completion of the sale, the chief financial officer now owns 61,040 shares in the company, valued at approximately $968,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of First Foundation stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at approximately $303,800. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock valued at $1,205,550 in the last three months. 22.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in 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 during the period. Bank of Montreal Can acquired a new stake in First Foundation during the first quarter valued at approximately $138,000. Alliancebernstein L.P. acquired a new stake in First Foundation during the first quarter valued at approximately $192,000. Hollencrest Securities LLC acquired a new stake in First Foundation during the second quarter valued at approximately $207,000. Finally, Citadel Advisors LLC boosted its stake in 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 period. Institutional investors own 51.25% 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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