Research Analysts Set Expectations for FFWM FY2024 Earnings

First Foundation Inc. (NASDAQ:FFWM) – DA Davidson raised their FY2024 earnings estimates for shares of First Foundation in a report issued on Wednesday, October 30th. DA Davidson analyst G. Tenner now anticipates that the bank will earn $0.17 per share for the year, up from their prior forecast of ($0.19). The consensus estimate for First Foundation’s current full-year earnings is ($0.13) per share. DA Davidson also issued estimates for First Foundation’s FY2025 earnings at $0.54 EPS.

FFWM has been the topic of a number of other reports. Stephens downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.80.

First Foundation Stock Performance

First Foundation stock opened at $6.74 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.84. First Foundation has a 1 year low of $4.41 and a 1 year high of $11.47. The company has a market cap of $457.31 million, a PE ratio of -6.02 and a beta of 1.32. The company’s 50-day moving average is $6.84 and its two-hundred day moving average is $6.32.

First Foundation (NASDAQ:FFWM) last released its earnings results on Tuesday, October 29th. The bank reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.33. First Foundation had a negative net margin of 11.52% and a positive return on equity of 1.07%. The company had revenue of $61.06 million for the quarter, compared to the consensus estimate of $60.60 million.

Institutional Trading of First Foundation

Large investors have recently bought and sold shares of the business. Caxton Associates LP bought a new stake in First Foundation during the 1st quarter worth approximately $123,000. Creative Planning grew its stake in shares of First Foundation by 35.8% during the 3rd quarter. Creative Planning now owns 16,463 shares of the bank’s stock worth $103,000 after acquiring an additional 4,336 shares in the last quarter. Boston Partners bought a new position in shares of First Foundation during the 1st quarter worth approximately $128,000. The Manufacturers Life Insurance Company grew its stake in shares of First Foundation by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank’s stock worth $136,000 after acquiring an additional 1,632 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of First Foundation by 77.3% during the 1st quarter. Quadrature Capital Ltd now owns 23,119 shares of the bank’s stock worth $174,000 after acquiring an additional 10,076 shares in the last quarter. 73.10% of the stock is owned by institutional investors.

First Foundation Company Profile

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.