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First Foundation (FFWM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended March 2023, First Foundation (FFWM - Free Report) reported revenue of $70.45 million, down 21.7% over the same period last year. EPS came in at $0.15, compared to $0.55 in the year-ago quarter.

The reported revenue represents a surprise of -8.70% over the Zacks Consensus Estimate of $77.17 million. With the consensus EPS estimate being $0.17, the EPS surprise was -11.76%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how First Foundation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 84.5% compared to the 83.17% average estimate based on three analysts.
  • Net Interest Margin: 1.83% versus 1.99% estimated by three analysts on average.
  • Net Charge-off (% of Average Loans): 0.06% versus 0.02% estimated by three analysts on average.
  • Average Balances - Interest earning assets: $12.75 billion compared to the $12.91 billion average estimate based on three analysts.
  • Total Noninterest income: $11.70 million compared to the $13.30 million average estimate based on three analysts.
  • Net interest income: $58.76 million versus $63.87 million estimated by three analysts on average.
View all Key Company Metrics for First Foundation here>>>

Shares of First Foundation have returned -23.7% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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