FY2017 EPS Estimates for First Foundation Inc. (NASDAQ:FFWM) Lowered by Analyst

First Foundation Inc. (NASDAQ:FFWM) – DA Davidson lowered their FY2017 earnings per share estimates for First Foundation in a research report issued on Thursday. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $0.91 for the year, down from their prior estimate of $0.92. DA Davidson has a “Buy” rating and a $19.50 price objective on the stock.

A number of other equities analysts also recently weighed in on FFWM. FBR & Co upped their price target on First Foundation from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, April 25th. Piper Jaffray Companies initiated coverage on First Foundation in a report on Friday, May 12th. They issued a “neutral” rating and a $18.00 price objective for the company. ValuEngine raised First Foundation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded First Foundation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. First Foundation presently has a consensus rating of “Buy” and an average price target of $19.13.

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First Foundation (NASDAQ FFWM) traded down 0.06% during mid-day trading on Monday, hitting $17.33. 18,113 shares of the company traded hands. The company’s 50-day moving average price is $16.57 and its 200 day moving average price is $15.87. First Foundation has a one year low of $11.15 and a one year high of $18.16. The company has a market capitalization of $591.87 million, a price-to-earnings ratio of 18.28 and a beta of 0.63.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. The business had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 11.09%.

In other First Foundation news, CFO John Michel sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.47, for a total transaction of $494,100.00. Following the completion of the sale, the chief financial officer now owns 83,291 shares of the company’s stock, valued at approximately $1,371,802.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the sale, the chairman now directly owns 20,000 shares of the company’s stock, valued at approximately $303,800. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $809,800 in the last ninety days. Insiders own 18.50% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of First Foundation by 128.1% in the first quarter. Wells Fargo & Company MN now owns 81,240 shares of the bank’s stock valued at $1,260,000 after buying an additional 45,620 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of First Foundation by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 307,083 shares of the bank’s stock valued at $4,763,000 after buying an additional 22,616 shares in the last quarter. FMR LLC increased its stake in shares of First Foundation by 25.0% in the fourth quarter. FMR LLC now owns 622,047 shares of the bank’s stock valued at $17,728,000 after buying an additional 124,282 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of First Foundation during the fourth quarter valued at about $887,000. Finally, Teachers Advisors LLC increased its stake in shares of First Foundation by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 22,005 shares of the bank’s stock valued at $627,000 after buying an additional 872 shares in the last quarter. 51.34% of the stock is owned by institutional investors and hedge funds.

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.

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

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