First Foundation (NASDAQ:FFWM) Releases Earnings Results, Beats Estimates By $0.05 EPS

First Foundation (NASDAQ:FFWM) issued its quarterly earnings data on Thursday. The bank reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05, Zacks reports. The company had revenue of $164.57 million for the quarter, compared to analysts’ expectations of $54.23 million. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. During the same quarter in the previous year, the firm posted $0.07 earnings per share.

First Foundation Trading Up 0.4 %

Shares of NASDAQ:FFWM traded up $0.03 during mid-day trading on Friday, hitting $7.08. The company had a trading volume of 1,110,525 shares, compared to its average volume of 1,021,322. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 1.07. First Foundation has a one year low of $4.41 and a one year high of $11.47. The firm has a fifty day moving average price of $5.93 and a 200 day moving average price of $7.06. The company has a market capitalization of $400.09 million, a PE ratio of -1.93 and a beta of 1.34.

Wall Street Analyst Weigh In

Several brokerages have commented on FFWM. Raymond James downgraded First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. Wedbush reduced their target price on First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Stephens raised their price target on shares of First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday. DA Davidson raised shares of First Foundation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $8.00 to $9.00 in a research note on Wednesday, July 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 target price on shares of First Foundation in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Foundation currently has an average rating of “Hold” and a consensus price target of $7.80.

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.