First Foundation Inc reports results for the quarter ended in September 30 - Earnings Summary

First Foundation

29/10/2024 14:19

* First Foundation Inc  FFWM.N  reported a quarterly
adjusted loss
of $1.23​​ per share for the quarter ended September 30, lower
than the same quarter last year, when the company reported EPS
of 5 cents.  The mean expectation of five analysts for the
quarter was for a loss of 54 cents per share. Wall Street
expected results to range from -96 cents to -24 cents per share.
    * Revenue fell 4.2% to $61.07 million from a year ago;
analysts
expected $60.68 million. 
    * First Foundation Inc's reported EPS for the quarter was a
loss
of $1.23​.
    * The company reported a quarterly loss of $82.17 million.
    * First Foundation Inc shares had risen by 24.5% this
quarter and
lost 19.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 120.5% in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for First Foundation
Inc is $7.50 
This summary was machine generated from LSEG data October 29 at
02:18 p.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
 Sep. 30 2024      -0.54          -1.23          Missed
 Jun. 30 2024      0.01           0.06           Beat
 Mar. 31 2024      0.01           0.01           Met
 Dec. 31 2023      0.03           0.05           Beat