Analysts Offer Predictions for First Foundation Inc.’s Q2 2024 Earnings (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWM) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of First Foundation in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst G. Tenner expects that the bank will post earnings of $0.01 per share for the quarter. The consensus estimate for First Foundation’s current full-year earnings is $0.27 per share.

Several other equities analysts also recently issued reports on the company. Raymond James upgraded First Foundation from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $9.50 to $12.00 in a research report on Friday, January 5th. Wedbush lowered their target price on First Foundation from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com raised First Foundation from a “sell” rating to a “hold” rating in a research note on Friday, April 26th.

First Foundation Trading Down 8.2 %

Shares of FFWM opened at $5.48 on Monday. The stock has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $7.50. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.05 and a current ratio of 1.05. First Foundation has a 52-week low of $3.69 and a 52-week high of $11.47. The company has a market cap of $309.67 million, a price-to-earnings ratio of -1.50 and a beta of 1.23.

First Foundation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.73%. First Foundation’s dividend payout ratio (DPR) is currently -1.09%.

Insider Activity

In related news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of First Foundation stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $8.16, for a total transaction of $204,000.00. Following the completion of the sale, the chairman now directly owns 1,230,622 shares of the company’s stock, valued at $10,041,875.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On First Foundation

A number of institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of First Foundation during the first quarter worth $171,000. Riverview Trust Co acquired a new position in First Foundation in the first quarter valued at about $25,000. Quadrature Capital Ltd acquired a new position in First Foundation in the fourth quarter valued at about $126,000. BHZ Capital Management LP grew its stake in First Foundation by 33.7% in the fourth quarter. BHZ Capital Management LP now owns 742,355 shares of the bank’s stock valued at $7,186,000 after acquiring an additional 187,182 shares during the period. Finally, Azora Capital LP grew its stake 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 acquiring an additional 90,840 shares during the period. 73.10% of the stock is owned by institutional investors and hedge funds.

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.