Q2 2024 EPS Estimates for First Foundation Inc. Lowered by DA Davidson (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWM) – DA Davidson lowered their Q2 2024 EPS estimates for shares of First Foundation in a report issued on Thursday, June 27th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $0.00 for the quarter, down from their previous forecast 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.

Several other research analysts have also commented on the stock. Wedbush restated a “neutral” rating and issued a $7.00 price target on shares of First Foundation in a report on Wednesday, May 22nd. StockNews.com upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

First Foundation Trading Up 1.5 %

Shares of FFWM stock opened at $6.57 on Monday. First Foundation has a 1-year low of $3.69 and a 1-year high of $11.47. The firm’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $7.47. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $371.27 million, a P/E ratio of -1.80 and a beta of 1.34.

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

First Foundation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, May 3rd. First Foundation’s payout ratio is currently -1.09%.

Institutional Trading of First Foundation

Hedge funds have recently made changes to their positions in the stock. Azora Capital LP grew its position in shares of First Foundation by 3.1% during the fourth quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock worth $29,366,000 after buying an additional 90,840 shares in the last quarter. BHZ Capital Management LP boosted its holdings in First Foundation by 33.7% in the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock worth $7,186,000 after purchasing an additional 187,182 shares during the period. Vanguard Group Inc. boosted its holdings in First Foundation by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,812,024 shares of the bank’s stock worth $17,097,000 after purchasing an additional 20,799 shares during the period. Citigroup Inc. boosted its holdings in First Foundation by 149.3% in the third quarter. Citigroup Inc. now owns 41,900 shares of the bank’s stock worth $255,000 after purchasing an additional 25,095 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in First Foundation by 116.3% in the fourth quarter. New York State Common Retirement Fund now owns 21,070 shares of the bank’s stock worth $204,000 after purchasing an additional 11,328 shares during the period. Institutional investors and hedge funds 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.