Q2 2024 EPS Estimates for First Foundation Inc. (NASDAQ:FFWM) Reduced by Analyst

First Foundation Inc. (NASDAQ:FFWM) – DA Davidson reduced their Q2 2024 earnings estimates for shares of First Foundation in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $0.00 per share 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.

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

FFWM has been the topic of a number of other reports. StockNews.com raised shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wedbush reiterated a “neutral” rating and issued a $7.00 target price on shares of First Foundation in a report on Wednesday, May 22nd.

First Foundation Stock Down 1.2 %

Shares of FFWM opened at $6.47 on Monday. The firm has a market cap of $365.62 million, a P/E ratio of -1.77 and a beta of 1.34. First Foundation has a 12-month low of $3.69 and a 12-month high of $11.47. The company’s 50-day moving average price is $5.87 and its 200 day moving average price is $7.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.84.

First Foundation Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.62%. First Foundation’s dividend payout ratio is presently -1.09%.

Institutional Trading of First Foundation

A number of large investors have recently modified their holdings of the stock. Diversified Trust Co grew its stake in First Foundation by 8.5% during the 4th quarter. Diversified Trust Co now owns 13,946 shares of the bank’s stock worth $135,000 after purchasing an additional 1,089 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of First Foundation during the first quarter worth approximately $25,000. Empowered Funds LLC increased its stake in shares of First Foundation by 8.2% during the first quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after buying an additional 3,500 shares during the period. Principal Financial Group Inc. raised its holdings in First Foundation by 22.5% in the fourth quarter. Principal Financial Group Inc. now owns 32,971 shares of the bank’s stock valued at $319,000 after acquiring an additional 6,045 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in First Foundation by 77.3% in the first quarter. Quadrature Capital Ltd now owns 23,119 shares of the bank’s stock worth $174,000 after acquiring an additional 10,076 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.