First Foundation (NASDAQ:FFWM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

First Foundation (NASDAQ:FFWM) posted its quarterly earnings results on Thursday. The bank reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. The company had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $54.23 million. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. During the same quarter in the previous year, the firm earned $0.07 EPS.

First Foundation Trading Up 0.4 %

Shares of NASDAQ FFWM traded up $0.03 during trading on Friday, reaching $7.08. The company had a trading volume of 1,110,525 shares, compared to its average volume of 1,021,322. The company’s fifty day moving average price is $5.93 and its 200-day moving average price is $7.06. First Foundation has a 12 month low of $4.41 and a 12 month high of $11.47. The stock has a market cap of $400.09 million, a P/E ratio of -1.93 and a beta of 1.34. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.84.

Wall Street Analyst Weigh In

FFWM has been the subject of several research analyst reports. Raymond James downgraded First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. Wedbush decreased their price target on shares of First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Piper Sandler reissued a “neutral” rating and issued a $6.00 price objective on shares of First Foundation in a research note on Wednesday, July 3rd. Stephens boosted their target price on shares of First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, StockNews.com cut First Foundation from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, First Foundation has a consensus rating of “Hold” and a consensus price target of $7.80.

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.