FY2024 Earnings Estimate for FFWM Issued By Wedbush

First Foundation Inc. (NASDAQ:FFWM) – Analysts at Wedbush issued their FY2024 EPS estimates for First Foundation in a research note issued to investors on Wednesday, October 30th. Wedbush analyst D. Chiaverini anticipates that the bank will post earnings of $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 analysts 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 Wednesday. Stephens lowered shares of First Foundation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.80.

First Foundation Stock Down 3.0 %

Shares of NASDAQ FFWM opened at $6.74 on Friday. 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 $457.31 million, a PE ratio of 40.88 and a beta of 1.32. 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 company has a 50-day moving average of $6.84 and a 200 day moving average of $6.32.

First Foundation (NASDAQ:FFWM) last released its earnings results on Tuesday, October 29th. The bank reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.33. The business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.60 million. First Foundation had a negative net margin of 11.52% and a positive return on equity of 1.07%.

Hedge Funds Weigh In On First Foundation

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of First Foundation by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock worth $21,592,000 after acquiring an additional 31,026 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Foundation by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,096 shares of the bank’s stock worth $12,294,000 after acquiring an additional 24,440 shares during the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of First Foundation by 144.3% in the 2nd quarter. Mendon Capital Advisors Corp now owns 646,691 shares of the bank’s stock worth $4,236,000 after acquiring an additional 381,946 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of First Foundation in the 1st quarter worth approximately $3,819,000. Finally, American Century Companies Inc. lifted its holdings in shares of First Foundation by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 500,490 shares of the bank’s stock worth $3,278,000 after acquiring an additional 7,302 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

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.