Wall Street brokerages expect that First Foundation Inc. (NASDAQ:FFWM) will announce $38.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for First Foundation’s earnings, with estimates ranging from $37.78 million to $39.40 million. First Foundation reported sales of $38.24 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The business is scheduled to issue its next earnings results on Thursday, October 26th.

According to Zacks, analysts expect that First Foundation will report full year sales of $38.83 million for the current fiscal year, with estimates ranging from $149.75 million to $153.70 million. For the next financial year, analysts forecast that the firm will post sales of $192.66 million per share, with estimates ranging from $187.20 million to $197.89 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow First Foundation.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $36.38 million. First Foundation had a net margin of 20.14% and a return on equity of 10.82%.

Several equities research analysts have recently weighed in on FFWM shares. Zacks Investment Research cut First Foundation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. TheStreet upgraded First Foundation from a “d” rating to a “c-” rating in a research note on Wednesday, July 26th. BidaskClub lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. FBR & Co set a $21.00 price objective on First Foundation and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, DA Davidson reiterated a “buy” rating and set a $19.50 price objective on shares of First Foundation in a research note on Monday, June 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Foundation currently has a consensus rating of “Buy” and an average target price of $19.13.

In related news, Chairman Ulrich E. Keller, Jr. sold 6,800 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.30, for a total value of $117,640.00. Following the completion of the sale, the chairman now directly owns 20,000 shares in the company, valued at approximately $346,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 13,600 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.28, for a total value of $235,008.00. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at $345,600. The disclosure for this sale can be found here. Insiders have sold a total of 73,021 shares of company stock worth $1,231,497 in the last ninety days. Insiders own 18.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in First Foundation by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,079 shares of the bank’s stock worth $362,000 after buying an additional 1,165 shares during the last quarter. State Street Corp boosted its position in First Foundation by 13.8% in the second quarter. State Street Corp now owns 457,699 shares of the bank’s stock worth $7,520,000 after buying an additional 55,468 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in First Foundation by 22.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 101,410 shares of the bank’s stock worth $1,666,000 after buying an additional 18,800 shares during the period. Voya Investment Management LLC boosted its position in First Foundation by 9.0% in the second quarter. Voya Investment Management LLC now owns 21,231 shares of the bank’s stock worth $349,000 after buying an additional 1,749 shares during the period. Finally, OxFORD Asset Management LLP boosted its position in First Foundation by 5.0% in the second quarter. OxFORD Asset Management LLP now owns 16,145 shares of the bank’s stock worth $265,000 after buying an additional 772 shares during the period. Institutional investors and hedge funds own 52.33% of the company’s stock.

First Foundation (NASDAQ:FFWM) traded down 0.66% during trading on Friday, reaching $16.60. 53,141 shares of the company were exchanged. First Foundation has a 12 month low of $11.64 and a 12 month high of $18.16. The firm has a market capitalization of $572.09 million, a PE ratio of 17.89 and a beta of 0.65. The stock has a 50 day moving average price of $16.95 and a 200 day moving average price of $16.21.

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

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