FY2024 Earnings Estimate for FFWM Issued By Wedbush

First Foundation Inc. (NASDAQ:FFWM) – Equities research analysts at Wedbush issued their FY2024 earnings estimates for First Foundation in a research report issued to clients and investors on Wednesday, October 30th. Wedbush analyst D. Chiaverini anticipates that the bank will earn $0.12 per share for the year. The consensus estimate for First Foundation’s current full-year earnings is ($0.13) per share. Wedbush also issued estimates for First Foundation’s Q4 2024 earnings at $0.00 EPS.

Several other brokerages have also recently commented on FFWM. Stephens cut First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com raised First Foundation from a “sell” rating to a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.80.

First Foundation Trading Down 0.3 %

Shares of NASDAQ:FFWM opened at $6.71 on Friday. The company has a 50 day moving average of $6.84 and a 200-day moving average of $6.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. The firm has a market cap of $455.27 million, a P/E ratio of -5.99 and a beta of 1.32. First Foundation has a twelve month low of $4.71 and a twelve month high of $11.47.

Institutional Investors Weigh In On First Foundation

Hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in First Foundation by 35.8% in the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after purchasing an additional 4,336 shares in the last quarter. Caxton Associates LP purchased a new position in shares of First Foundation in the first quarter worth approximately $123,000. Hollencrest Capital Management raised its holdings in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank’s stock valued at $124,000 after acquiring an additional 8,600 shares during the period. Boston Partners purchased a new stake in shares of First Foundation in the 1st quarter valued at approximately $128,000. Finally, The Manufacturers Life Insurance Company boosted its stake in First Foundation by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after purchasing an additional 1,632 shares during the period. 73.10% of the stock is owned by hedge funds and other institutional investors.

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.