Research Analysts Set Expectations for First Foundation Inc.’s Q2 2024 Earnings (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWM) – Investment analysts at DA Davidson decreased their Q2 2024 EPS estimates for First Foundation in a research note issued to investors on Thursday, June 27th. DA Davidson analyst G. Tenner now anticipates that the bank will earn $0.00 per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for First Foundation’s current full-year earnings is $0.11 per share. DA Davidson also issued estimates for First Foundation’s FY2024 earnings at $0.13 EPS.

First Foundation (NASDAQ:FFWM) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. First Foundation had a negative net margin of 32.44% and a positive return on equity of 1.11%. The firm had revenue of $51.07 million during the quarter, compared to the consensus estimate of $58.93 million.

Several other brokerages have also recently issued reports on FFWM. StockNews.com raised shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and set a $7.00 price objective on shares of First Foundation in a research note on Wednesday, May 22nd.

First Foundation Stock Up 9.2 %

FFWM opened at $6.55 on Monday. First Foundation has a twelve month low of $3.69 and a twelve month high of $11.47. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.84. The company has a 50-day moving average price of $5.88 and a 200 day moving average price of $7.51. The company has a market cap of $370.15 million, a PE ratio of -1.79 and a beta of 1.31.

First Foundation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.61%. First Foundation’s dividend payout ratio (DPR) is -1.09%.

Institutional Trading of First Foundation

Several hedge funds have recently made changes to their positions in the company. Diversified Trust Co grew its stake in shares of First Foundation by 8.5% in the 4th quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock valued at $135,000 after buying an additional 1,089 shares during the period. Riverview Trust Co purchased a new position in shares of First Foundation during the 1st quarter worth approximately $25,000. Empowered Funds LLC boosted its position in shares of First Foundation by 8.2% during the 1st quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after purchasing an additional 3,500 shares during the period. Principal Financial Group Inc. boosted its position in shares of First Foundation by 22.5% during the 4th quarter. Principal Financial Group Inc. now owns 32,971 shares of the bank’s stock worth $319,000 after purchasing an additional 6,045 shares during the period. Finally, Quadrature Capital Ltd boosted its position in shares of First Foundation by 77.3% during the 1st quarter. Quadrature Capital Ltd now owns 23,119 shares of the bank’s stock worth $174,000 after purchasing an additional 10,076 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides banking services, investment advisory, wealth management, and trust services to individuals, businesses, and other organizations in the United States. The company operates in two segments, Banking and Wealth Management. It offers a range of deposit products, including personal and business checking accounts, savings accounts, interest-bearing demand deposit accounts, money market accounts, and time certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, commercial term loans, and line of credits, as well as consumer loans, such as personal installment loans and line of credits, and home equity line of credits.