Sign up for MarketBeat All Access to get access to all of MarketBeat’s research tools: First Foundation Inc. (NASDAQ: FFWM) – DA Davidson’s research analysts did one on Thursday On March 4th, the research report published increased its estimates for earnings per share (EPS) for fiscal 2013 for First Foundation. DA Davidson analyst G. Tenner now expects the bank to post earnings per share of $ 2.02 for the year, compared to its previous forecast of $ 2.00. DA Davidson also announced First Foundation earnings estimates for FY 2222 of $ 2.17 per share.
Other equity analysts recently released reports on the stock. Zacks Investment Research downgraded First Foundation shares in a research note on Wednesday November 11th from a « Buy Strong » rating to a « Hold » rating. Raymond James raised his price target for shares in the First Foundation from USD 19.00 to USD 24.00 and rated the shares as « Outperform » in a research note on Wednesday, January 27th. TheStreet upgraded First Foundation shares in a research note on Monday, November 16, from a « c » rating to a « b- » rating. Finally, B. Riley raised the price target for shares in the First Foundation from USD 26.00 to USD 28.00 and gave the company a « Buy » rating in a research note on Friday. One investment analyst has given the stock a hold rating and four have given the stock a buy rating. First Foundation currently has an average rating of « Buy » and an average price target of $ 20.00.
FFWM shares opened at $ 23.95 on Monday. First Foundation has a 1-year low of $ 8.01 and a 1-year high of $ 25.00. The company has a market cap of $ 1.07 billion, a P / E of 13.92, and a beta of 1.54. The company has a 50-day moving average of $ 21.73 and a 200-day moving average of $ 17.93. The company has a leverage ratio of 0.40, a current of 0.97, and a fast of 0.88. The First Foundation (NASDAQ: FFWM) last released its quarterly results on Monday, January 25th. The bank reported earnings per share of $ 0.50 for the quarter, beating Zacks’ consensus estimate of $ 0.44 by $ 0.06. First Foundation had a net margin of 25.59% and a return on equity of 12.10%. The company posted revenue of $ 63.07 million for the quarter, compared to the consensus estimate of $ 60.69 million. (adsbygoogle = window.adsbygoogle || []). push ({});
Large investors recently bought and sold shares in the company. Arrowstreet Capital Limited Partnership increased its stake in First Foundation shares by 102.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 333,180 shares in the bank, valued at $ 4,355,000, after purchasing an additional 168,424 shares last quarter. Hollencrest Capital Management increased its stake in the First Foundation by 676.0% in the fourth quarter. Hollencrest Capital Management now owns 160,710 shares in the bank, valued at $ 3,214,000, after purchasing an additional 140,000 shares last quarter. Jennison Associates LLC increased its stake in the First Foundation by 16.2% in the fourth quarter. Jennison Associates LLC now owns 1,706,221 shares in the bank, valued at $ 34,124,000, after purchasing an additional 238,315 shares last quarter. Mackay Shields LLC increased its stake in the First Foundation by 5.5% in the third quarter. Mackay Shields LLC now owns 135,070 shares in the bank valued at $ 1,766,000 after purchasing an additional 7,100 shares last quarter. Finally, AJO LP increased its stake in the First Foundation by 1,461.4% in the third quarter. AJO LP now owns 34,741 shares in the bank valued at $ 454,000 after purchasing an additional 32,516 shares last quarter. Hedge funds and other institutional investors own 61.20% of the company’s shares.
In other news, insider John Hakopian sold 20,000 shares in a transaction that happened on Monday, March 1st. The shares were sold at an average price of $ 23.43 for a total transaction of $ 468,600.00. Following the sale, the Insider now holds 53,686 shares in the company valued at $ 1,257,862.98. The transaction was announced in a filing with the SEC, which is available at this link. In addition, Chairman Ulrich E. Keller Jr. sold 25,000 shares in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $ 18.92 for a total transaction of $ 473,000.00. Following the sale, the chairman now owns 20,000 shares in the company valued at approximately $ 378,400. The disclosure for this sale can be found here. Insiders have sold 85,715 shares in the company for $ 1,820,149 in the past ninety days. Insiders own 13.90% of the company’s shares.
The company recently announced a quarterly dividend, which was paid on Monday, February 15th. On Friday, February 5th, a dividend of $ 0.09 per share was paid to shareholders of record. This is an increase over the First Foundation’s previous quarterly dividend of $ 0.07. The ex-dividend day of this dividend was Thursday February 4th. This equates to an annual dividend of $ 0.36 and a dividend yield of 1.50%. The First Foundation’s payout ratio (DPR) is currently 28.80%.
First Foundation Inc provides financial services to individuals, corporations, and other organizations in the United States through its subsidiaries. The company operates in two segments: banking, investment management and wealth planning. The company offers a range of bank deposit products including personal and business checking accounts, savings accounts, interest-bearing negotiable withdrawal accounts, money market accounts, and time deposit certificates. and loan products consisting of multi-family and single-family home loans, commercial real estate loans and commercial term loans and lines of credit, and consumer loans such as personal installment loans and lines of credit and home equity lines.
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