First Foundation (FFWM) Scheduled to Post Earnings on Thursday

Posted by Defense World Staff on Jul 20th, 2023

First Foundation (NASDAQ:FFWM – Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, July 27th. Analysts expect First Foundation to post earnings of $0.04 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

First Foundation (NASDAQ:FFWM – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $77.17 million. First Foundation had a return on equity of 8.07% and a net margin of 17.42%. On average, analysts expect First Foundation to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

First Foundation Price Performance

Shares of NASDAQ FFWM opened at $5.36 on Thursday. The stock has a market capitalization of $302.41 million, a price-to-earnings ratio of 3.44 and a beta of 0.88. First Foundation has a 12 month low of $3.69 and a 12 month high of $22.01. The firm’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $8.84. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.17 and a quick ratio of 1.17.

First Foundation Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.08 annualized dividend and a yield of 1.49%. First Foundation’s dividend payout ratio (DPR) is presently 5.13%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FFWM. Raymond James dropped their target price on First Foundation from $18.00 to $9.50 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Wedbush lowered their price objective on First Foundation from $10.00 to $8.00 in a research report on Friday, April 28th. Finally, StockNews.com began coverage on First Foundation in a research report on Thursday, May 18th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.90.

Insider Buying and Selling at First Foundation

In other First Foundation news, Director Max Briggs acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average price of $4.69 per share, for a total transaction of $46,900.00. Following the completion of the transaction, the director now owns 46,072 shares of the company’s stock, valued at approximately $216,077.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 17,610 shares of company stock worth $80,604. 10.20% of the stock is owned by insiders.

Institutional Trading of First Foundation

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of First Foundation by 8.1% in the 3rd quarter. BlackRock Inc. now owns 4,267,481 shares of the bank’s stock worth $77,411,000 after purchasing an additional 321,560 shares during the period. Vanguard Group Inc. boosted its position in First Foundation by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,648,705 shares of the bank’s stock worth $48,048,000 after acquiring an additional 84,407 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of First Foundation by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,471,899 shares of the bank’s stock valued at $18,416,000 after buying an additional 153,418 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of First Foundation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,851,907 shares of the bank’s stock valued at $26,538,000 after buying an additional 47,717 shares during the period. Finally, State Street Corp lifted its holdings in shares of First Foundation by 27.6% in the first quarter. State Street Corp now owns 1,845,856 shares of the bank’s stock valued at $13,752,000 after buying an additional 399,254 shares during the period. Institutional investors and hedge funds own 69.74% of the company’s stock.

About First Foundation

(Get Free Report)

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 bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal 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, and 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.