DA Davidson Raises Earnings Estimates for First Foundation

Key Points

• DA Davidson has raised its FY2025 earnings per share (EPS) estimate for First Foundation Inc. from $0.16 to $0.17, while the consensus estimate for the company's current full-year earnings stands at $0.28 per share.
• Piper Sandler has reduced its price target for First Foundation from $6.00 to $5.50 and maintains a "neutral" rating on the stock.
• Institutional investors own 73.10% of First Foundation's stock, with several firms recently increasing their stakes significantly during the second quarter.

First Foundation Inc. (NASDAQ:FFWM - Free Report) - Equities research analysts at DA Davidson lifted their FY2025 earnings per share (EPS) estimates for First Foundation in a research note issued on Monday, September 29th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $0.17 per share for the year, up from their prior estimate of $0.16. The consensus estimate for First Foundation's current full-year earnings is $0.28 per share.

Separately, Piper Sandler lowered their price target on First Foundation from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, First Foundation presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.25.

First Foundation Stock Down 0.6%

FFWM opened at $5.58 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.04. First Foundation has a one year low of $4.41 and a one year high of $8.52. The business's 50-day simple moving average is $5.56 and its 200-day simple moving average is $5.29. The stock has a market capitalization of $459.30 million, a P/E ratio of -4.16 and a beta of 1.04.

Institutional Investors Weigh In On First Foundation

Several institutional investors have recently modified their holdings of the company. Rafferty Asset Management LLC boosted its stake in shares of First Foundation by 26.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 106,587 shares of the bank's stock worth $544,000 after acquiring an additional 22,236 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of First Foundation by 256.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 85,550 shares of the bank's stock worth $436,000 after acquiring an additional 61,553 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of First Foundation by 30.7% during the 2nd quarter. Bank of America Corp DE now owns 249,727 shares of the bank's stock worth $1,274,000 after acquiring an additional 58,596 shares in the last quarter. FJ Capital Management LLC lifted its stake in First Foundation by 964.2% in the 2nd quarter. FJ Capital Management LLC now owns 1,478,574 shares of the bank's stock valued at $7,541,000 after buying an additional 1,339,637 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in First Foundation by 58.6% in the 2nd quarter. Fourthstone LLC now owns 670,016 shares of the bank's stock valued at $3,417,000 after buying an additional 247,636 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company's stock.

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.

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