First Foundation (NYSE:FFWM) Posts Earnings Results

Key Points

• First Foundation reported a loss of $0.09 per share, missing analysts' expectations by $0.11, with revenue of $51.42 million falling short of the $64.50 million estimate.
• The company's stock dropped 1.4% to $4.80, with a market cap of $395.45 million and a negative return on equity of 1.20%.
• Wall Street Zen upgraded First Foundation from a "sell" rating to a "hold" rating on June 27th, signaling a potential shift in analyst sentiment.

First Foundation (NYSE:FFWM - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11), Zacks reports. First Foundation had a negative return on equity of 1.20% and a negative net margin of 15.29%. The business had revenue of $51.42 million during the quarter, compared to the consensus estimate of $64.50 million.

First Foundation Price Performance

Shares of First Foundation stock remained flat at $5.09 during trading hours on Wednesday. The company's stock had a trading volume of 307,560 shares, compared to its average volume of 736,129. The firm's 50 day moving average is $5.23. The stock has a market cap of $419.37 million, a P/E ratio of -3.61 and a beta of 1.00. First Foundation has a 1-year low of $4.41 and a 1-year high of $8.52. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.02 and a quick ratio of 0.89.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded First Foundation from a "sell" rating to a "hold" rating in a report on Friday, June 27th.

About First Foundation

First Foundation Inc, through its subsidiaries, provides personal banking, business banking, and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. The company 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.