First Foundation Inc. (NASDAQ:FFWM – Get Rating) – Equity analysts at Wedbush lowered their second-quarter 2022 earnings per share estimates for First Foundation shares in a report released Tuesday, April 26. Wedbush analyst D. Chiaverini now expects the bank to earn $0.50 per share for the quarter, down from his previous forecast of $0.53. Wedbush also released estimates for First Foundation Q3 2022 earnings at $0.51 EPS, Q4 2022 earnings at $0.54 EPS, FY2022 earnings at $2.10 EPS, Q1 2023 earnings at $0.55 EPS, Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $0.62 EPS and Q4 2023 earnings at $0.64 EPS.
First Foundation (NASDAQ:FFWM – Get Rating) last reported quarterly earnings data on Tuesday, April 26. The bank reported EPS of $0.55 for the quarter, beating Thomson Reuters consensus estimate of $0.51 by $0.04. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. In the same quarter a year earlier, the company posted EPS of $0.50.
A number of other analysts have also recently released reports on the stock. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 report. StockNews.com began covering First Foundation stocks in a report on Thursday, March 31. They issued a “holding” rating on the stock. B. Riley lowered his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 research note. Finally, Stephens began covering First Foundation stocks in a research report on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 for the company. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, First Foundation currently has a consensus buy rating and a consensus target price of $31.00.
Shares of FFWM opened at $22.29 on Thursday. The company has a market capitalization of $1.26 billion, a price-earnings ratio of 9.21 and a beta of 1.24. First Foundation has a one-year minimum of $21.25 and a one-year maximum of $29.41. The company’s fifty-day moving average price is $24.75 and its 200-day moving average price is $25.93. The company has a debt ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.90.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 16. Shareholders of record on Friday, May 6 will receive a dividend of $0.11 per share. The ex-dividend date is Thursday, May 5. This represents a dividend of $0.44 on an annualized basis and a yield of 1.97%. First Foundation’s payout ratio is 18.18%.
Separately, director Diane M. Rubin purchased 1,000 shares of the company in a transaction on Monday, February 7. The shares were acquired at an average price of $26.53 per share, for a total transaction of $26,530.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.90% of the company’s shares.
Several hedge funds have recently increased or reduced their holdings in FFWM. River Oaks Capital LLC purchased a new equity stake in First Foundation in Q4 valued at $754,000. Allspring Global Investments Holdings LLC acquired a new stake in First Foundation during the fourth quarter valued at $9,476,000. Stieven Capital Advisors LP acquired a new stake in First Foundation during the third quarter at a value of $8,398,000. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new stake in First Foundation during the third quarter with a value of $8,338,000. Finally, Alliancebernstein LP increased its stake in First Foundation by 1,087.8% during the fourth quarter. Alliancebernstein LP now owns 332,187 shares of the bank worth $8,258,000 after buying an additional 304,221 shares last quarter. 69.39% of the shares are currently held by institutional investors and hedge funds.
First Foundation Company Profile (Get an assessment)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking services in the United States. It operates through two segments, Banking and Wealth Management. The Company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family and single-family residential real estate loans, commercial real estate loans and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit , and home equity lines of credit .
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