First Foundation Inc reports results for the quarter ended in March - Earnings Summary

First Foundation

26/04/2024 11:41

* First Foundation Inc  FFWM.N  reported quarterly adjusted
earnings of 1 cent​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 15 cents.  The mean expectation of five analysts for the
quarter was for earnings of one cent per share. Wall Street
expected results to range from -6 cents to 7 cents per share.
    * Revenue fell 28.3% to $50.49 million from a year ago;
analysts
expected $56.69 million. 
    * First Foundation Inc's reported EPS for the quarter was 1
cent​.
    * The company reported quarterly net income of $793
thousand.
    * First Foundation Inc shares had fallen by 11.3% this
quarter and
lost 30.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 63.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for First Foundation
Inc is $8.00 
This summary was machine generated from LSEG data April 26 at
10:41 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.01           0.01           Met
 Dec. 31 2023      0.03           0.05           Beat
 Sep. 30 2023      0.04           0.05           Beat
 Jun. 30 2023      0.04           0.07           Beat