First Foundation (FFWM) Reports Q2 Earnings: What Key Metrics Have to Say
First Foundation (FFWM) reported $61.06 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 35.9%. EPS of $0.07 for the same period compares to $0.59 a year ago.
The reported revenue represents a surprise of +0.65% over the Zacks Consensus Estimate of $60.67 million. With the consensus EPS estimate being $0.04, the EPS surprise was +75.00%.
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: 92.5% compared to the 92.03% average estimate based on three analysts.
Average Balances - Interest earning assets: $12.91 billion versus the three-analyst average estimate of $12.97 billion.
Net Charge-off (% of Average Loans): 0.02% versus 0.04% estimated by three analysts on average.
Net Interest Margin: 1.51% versus the three-analyst average estimate of 1.48%.
Total Noninterest income: $12.08 million compared to the $12.67 million average estimate based on three analysts.
Net interest income: $48.98 million versus $47.98 million estimated by three analysts on average.
View all Key Company Metrics for First Foundation here>>>
Shares of First Foundation have returned +37% over the past month versus the Zacks S&P 500 composite's +5.6% 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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First Foundation Inc. (FFWM) : Free Stock Analysis Report
