First Foundation (FFWM) Misses Q1 EPS by 3c, Miss on Revenues
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First Foundation (NASDAQ: FFWM) reported Q1 EPS of $0.23, $0.03 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $43.2 million versus the consensus estimate of $43.86 million.
Financial Results:
2018 first quarter compared to 2017 first quarter:
- Total revenues were $43.2 million, an increase of 28%
- Net interest income was $34.3 million, an increase of 32%
- Income before taxes was $12.6 million, an increase of 39%
- Earnings were $9.0 million, an increase of 47%
- Earnings per fully diluted share were $0.23, compared to $0.18 in 2017, an increase of 27%
2018 Financial ratios:
- Return on average tangible equity of 9.8% for the quarter
- Return on average assets of 0.76% for the quarter
- Efficiency ratio of 67.0% for the quarter
- Total tangible shareholders’ equity of $379 million, tangible book value of $9.69 per share, and tangible common equity to tangible assets of 7.87%, in each case, as of March 31, 2018
For earnings history and earnings-related data on First Foundation (FFWM) click here.
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