Q4 2024 EPS Estimates for First Foundation Inc. (NASDAQ:FFWM) Reduced by Analyst

First Foundation Inc. (NASDAQ:FFWM - Free Report) - Analysts at Wedbush dropped their Q4 2024 EPS estimates for shares of First Foundation in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.17. Wedbush currently has a "Neutral" rating and a $11.00 target price on the stock. The consensus estimate for First Foundation's current full-year earnings is $0.28 per share.

First Foundation (NASDAQ:FFWM - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. First Foundation had a negative net margin of 31.95% and a positive return on equity of 1.80%. The firm had revenue of $56.37 million for the quarter, compared to analyst estimates of $62.03 million.

Separately, Raymond James upgraded shares of 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 note on Friday, January 5th.

First Foundation Stock Up 1.6 %

NASDAQ:FFWM traded up $0.12 during midday trading on Friday, hitting $7.55. 918,264 shares of the company were exchanged, compared to its average volume of 481,232. The company has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $7.45. First Foundation has a fifty-two week low of $3.69 and a fifty-two week high of $11.47. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $426.35 million, a PE ratio of -2.14 and a beta of 1.23.

First Foundation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.53%. First Foundation's dividend payout ratio is presently -1.14%.

Insider Buying and Selling at First Foundation

In other First Foundation news, Chairman Ulrich E. Keller, Jr. sold 25,000 shares of First Foundation stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $8.16, for a total value of $204,000.00. Following the transaction, the chairman now directly owns 1,230,622 shares in the company, valued at $10,041,875.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.20% of the stock is currently owned by company insiders.

Institutional Trading of First Foundation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nierenberg Investment Management Company Inc. purchased a new stake in shares of First Foundation in the third quarter valued at about $411,000. Swiss National Bank boosted its holdings in First Foundation by 1.9% during the third quarter. Swiss National Bank now owns 111,600 shares of the bank's stock worth $679,000 after buying an additional 2,100 shares in the last quarter. Algert Global LLC purchased a new stake in First Foundation during the third quarter worth about $2,305,000. Verdad Advisers LP purchased a new stake in First Foundation during the third quarter worth about $365,000. Finally, Panagora Asset Management Inc. purchased a new stake in First Foundation during the third quarter worth about $1,843,000. 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.