First Foundation Inc. (NASDAQ:FFWMget rating) – Analysts at DA Davidson lowered their fiscal 2022 earnings per share (EPS) estimates for First Foundation stock in a research report released Wednesday, April 27. DA Davidson analyst G. Tenner now forecasts the bank to post earnings of $2.35 per share for the year, down from his previous estimate of $2.42. DA Davidson also issued estimates for First Foundation’s fiscal year 2023 earnings at $2.73 EPS.

Other stock research analysts have also issued reports on the company. assumed coverage of First Foundation in a report on Thursday, March 31. They set a “hold” rating for the company. Zacks Investment Research First Foundation upgraded from a “sell” rating to a “hold” rating in a report on Thursday, February 3. Stephens began coverage of First Foundation in a report on Wednesday, February 2. They set an “overweight” rating and a $32.00 price target on the stock. Ultimately, B. Riley lowered his price target on First Foundation from $34.00 to $31.00 in a research note on Tuesday, April 12. Two equity research analysts rated the stock a hold rating and three issued a buy rating on the stock. Per MarketBeat data, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Actions of NASDAQ:FFWM opened at $22.08 on Friday. First Foundation has a twelve month minimum of $21.25 and a twelve month maximum of $29.41. The company has a market cap of $1.25 billion, a P/E ratio of 9.12, and a beta of 1.24. The company has a 50-day moving average of $24.66 and a 200-day moving average of $25.90. The firm has a current ratio of 0.95, a quick ratio of 0.90, and a debt-to-equity ratio of 0.20.

First Foundation (NASDAQ:FFWMget rating) last posted its earnings results on Tuesday, April 26. The bank reported earnings of $0.55 per share for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.04. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. During the same period last year, the company posted earnings per share of $0.50.

The company also recently declared a quarterly dividend, to be paid on Monday, May 16. Investors registered on Friday May 6 will receive a dividend of $0.11 per share. This represents an annualized dividend of $0.44 and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 5. First Foundation’s Dividend Payout Ratio (DPR) is currently 18.18%.

In other news, director Diana M. Rubin bought 1,000 shares of the firm’s capital stock in a transaction that occurred on Monday, February 7. The shares were purchased at an average cost of $26.53 per share, with a total value of $26,530.00. The purchase was disclosed in a legal filing with the SEC, which is available via this link. Insiders own 13.90% of the company’s shares.

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its holding in First Foundation stock by 14.9% in the third quarter. American Century Companies Inc. now owns 97,689 shares of the bank valued at $2,569,000 after purchasing an additional 12,700 shares last quarter. Assenagon Asset Management SA purchased a new position in First Foundation in the fourth quarter for approximately $808,000. Allspring Global Investments Holdings LLC purchased a new stake in First Foundation during the fourth quarter valued at $9,476,000. Los Angeles Capital Management LLC purchased a new share of First Foundation stock during the third quarter valued at $216,000. Finally, Western Financial Corporation increased its holding in First Foundation stock by 38.3% during the fourth quarter. Western Financial Corporation now owns 11,000 shares of the bank valued at $273,000 after purchasing an additional 3,046 shares during the last quarter. Hedge funds and other institutional investors own 69.39% of the company’s shares.

About First Foundation (get rating)

First Foundation Inc, through its subsidiaries, provides personal banking, commercial banking and private wealth management services in the United States. It operates through two segments, Banking and Wealth Management. The company offers a variety of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable withdrawal accounts, money market accounts and time certificates of deposit; and credit products consisting of multi-family and single-family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal term loans and lines of credit, and home equity lines of credit.

Other readings

First Foundation Earnings History and Estimates (NASDAQ:FFWM)

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