Q1 2024 EPS Estimates for First Foundation Inc. (NASDAQ:FFWM) Raised by Analyst

First Foundation Inc. (NASDAQ:FFWM) – Stock analysts at DA Davidson increased their Q1 2024 earnings per share (EPS) estimates for First Foundation in a note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $0.02 per share for the quarter, up from their prior forecast of $0.01. The consensus estimate for First Foundation’s current full-year earnings is $0.28 per share. DA Davidson also issued estimates for First Foundation’s FY2024 earnings at $0.37 EPS.

First Foundation (NASDAQ:FFWM) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $62.03 million. First Foundation had a positive return on equity of 1.80% and a negative net margin of 31.95%.

A number of other research analysts also recently commented on the company. Wedbush boosted their price target on First Foundation from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Raymond James raised First Foundation from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $9.50 to $12.00 in a research note on Friday, January 5th.

First Foundation Stock Up 1.4 %

FFWM stock opened at $6.43 on Friday. The company has a market cap of $363.10 million, a PE ratio of 19.81 and a beta of 1.23. The business has a 50-day simple moving average of $7.49 and a 200 day simple moving average of $7.44. First Foundation has a 52 week low of $3.69 and a 52 week high of $11.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.52.

Institutional Trading of First Foundation

Several hedge funds and other institutional investors have recently made changes to their positions in FFWM. Riverview Trust Co bought a new stake in shares of First Foundation during the first quarter worth about $25,000. Royal Bank of Canada grew its holdings in shares of First Foundation by 77.6% during the second quarter. Royal Bank of Canada now owns 6,388 shares of the bank’s stock worth $25,000 after purchasing an additional 2,792 shares during the last quarter. Quarry LP bought a new stake in First Foundation in the first quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its holdings in First Foundation by 461.6% in the second quarter. Tower Research Capital LLC TRC now owns 10,322 shares of the bank’s stock valued at $41,000 after acquiring an additional 8,484 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in First Foundation in the second quarter valued at approximately $56,000. 73.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $8.16, for a total transaction of $204,000.00. Following the completion of the transaction, the chairman now owns 1,230,622 shares of the company’s stock, valued at $10,041,875.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.20% of the company’s stock.

First Foundation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, February 2nd. First Foundation’s payout ratio is -1.14%.

About First Foundation

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.