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First Foundation (FFWM) Reports Q3 Earnings: What Key Metrics Have to Say
First Foundation (FFWM - Free Report) reported $61.06 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 4.3%. EPS of $0.04 for the same period compares to $0.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $60.6 million, representing a surprise of +0.75%. The company delivered an EPS surprise of +113.79%, with the consensus EPS estimate being -$0.29.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 (non-GAAP): 98.1% compared to the 97.2% average estimate based on three analysts.
- Average Balances - Total interest-earnings assets: $13.20 billion versus the three-analyst average estimate of $13.01 billion.
- Net charge-offs (recoveries) to average loans - annualized: 0% compared to the 0% average estimate based on three analysts.
- Net Interest Margin: 1.5% compared to the 1.5% average estimate based on three analysts.
- Total nonperforming assets: $44.40 million versus the two-analyst average estimate of $27.24 million.
- Net interest income: $49.12 million compared to the $48.68 million average estimate based on three analysts.
- Total Noninterest income: $11.94 million versus $11.91 million estimated by three analysts on average.
- Asset management, consulting and other fees: $9.16 million versus the two-analyst average estimate of $9.09 million.
- Other income: $2.79 million versus the two-analyst average estimate of $2.57 million.
View all Key Company Metrics for First Foundation here>>>Shares of First Foundation have returned +24.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.