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

First Foundation Inc. (NASDAQ:FFWM) – Research analysts at Wedbush decreased their Q2 2024 earnings estimates for First Foundation in a research note issued on Monday, June 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn ($0.02) per share for the quarter, down from their previous forecast of $0.04. Wedbush currently has a “Neutral” rating and a $7.00 target price on the stock. The consensus estimate for First Foundation’s current full-year earnings is $0.12 per share. Wedbush also issued estimates for First Foundation’s Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.22 EPS and FY2025 earnings at $0.60 EPS.

Separately, StockNews.com raised shares of First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, April 26th.

First Foundation Stock Up 7.2 %

FFWM stock opened at $5.99 on Wednesday. The stock has a market capitalization of $338.49 million, a P/E ratio of -1.64 and a beta of 1.31. 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 company has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $7.51.

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

Institutional Trading of First Foundation

Several hedge funds and other institutional investors have recently bought and sold shares of FFWM. Azora Capital LP boosted its holdings in shares of First Foundation by 3.1% in the 4th quarter. Azora Capital LP now owns 3,033,696 shares of the bank’s stock valued at $29,366,000 after purchasing an additional 90,840 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of First Foundation by 1.1% in the 1st 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 boosted its holdings in shares of First Foundation by 33.7% in the 4th 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 acquired a new position in shares of First Foundation in the 1st quarter valued at $3,819,000. Finally, rhino investment partners Inc acquired a new position in shares of First Foundation in the 4th quarter valued at $4,093,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

First Foundation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.04 annualized dividend and a yield of 0.67%. First Foundation’s payout ratio is currently -1.09%.

First Foundation Company Profile

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.