Equities Analysts Set Expectations for First Foundation Inc.’s Q2 2024 Earnings (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWM) – Equities research analysts at DA Davidson dropped their Q2 2024 earnings per share estimates for First Foundation in a research note issued on Thursday, June 27th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $0.00 per share for the quarter, down from their prior 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 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $51.07 million for the quarter, compared to analysts’ expectations 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 several other research reports. StockNews.com upgraded 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 price target on shares of First Foundation in a research note on Wednesday, May 22nd.

First Foundation Trading Up 1.5 %

NASDAQ:FFWM opened at $6.57 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.07 and a current ratio of 1.07. First Foundation has a one year low of $3.69 and a one year high of $11.47. The business’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $7.47. The stock has a market cap of $371.27 million, a price-to-earnings ratio of -1.80 and a beta of 1.34.

First Foundation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, May 3rd. First Foundation’s dividend payout ratio is currently -1.09%.

Institutional Trading of First Foundation

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Azora Capital LP increased its holdings in First Foundation by 3.1% in the fourth quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock valued at $29,366,000 after buying an additional 90,840 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of First Foundation by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,859,870 shares of the bank’s stock valued at $21,592,000 after purchasing an additional 31,026 shares during the last quarter. BHZ Capital Management LP grew its holdings in shares of First Foundation by 33.7% during the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock valued at $7,186,000 after purchasing an additional 187,182 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of First Foundation during the first quarter valued at approximately $3,819,000. Finally, rhino investment partners Inc bought a new position in shares of First Foundation during the fourth quarter valued at approximately $4,093,000. 73.10% of the stock is owned by institutional investors.

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.