First Foundation Inc. (NASDAQ:FFWM – Get Rating) – Equity research analysts DA Davidson raised their earnings per share (EPS) estimates for fiscal year 2023 for First Foundation in a note released to investors on Wednesday March 30. DA Davidson analyst G. Tenner now expects the bank to earn $2.81 per share for the year, up from its previous estimate of $2.63. First Foundation (NASDAQ:FFWM – Get Rating) last released its results on Monday, January 31. The bank reported earnings per share (EPS) of $0.51 for the quarter, beating Thomson Reuters consensus estimate of $0.40 by $0.11. The company posted revenue of $75.79 million for the quarter, compared to $74.40 million expected by analysts. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. In the same quarter of the previous year, the company had achieved EPS of $0.50.
Several other stock analysts have also recently published reports on FFWM. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a Thursday, Feb. 3 research note. Stephens assumed coverage for First Foundation stocks in a Wednesday, Feb. 2 research note. They set an “overweight” rating and a target price of $32.00 on the stock. Finally, StockNews.com took over coverage of First Foundation stocks in a research report on Thursday. They set a “hold” rating for the company. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.75.
FFWM opened at $24.28 on Thursday. The company has a debt ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.95. The stock has a market capitalization of $1.37 billion, a P/E ratio of 10.03 and a beta of 1.27. The company’s 50-day simple moving average is $25.85 and its two-hundred-day simple moving average is $26.24. First Foundation has a 52-week minimum of $20.30 and a 52-week maximum of $29.41.
A number of institutional investors have recently increased or reduced their stake in FFWM. River Oaks Capital LLC purchased a new stake in First Foundation in Q4 for a value of approximately $754,000. Davidson Investment Advisors bought a new stake in First Foundation in Q3 worth approximately $15,694,000. Allspring Global Investments Holdings LLC acquired a new stake in First Foundation in Q4 for a value of approximately $9,476,000. Stieven Capital Advisors LP purchased a new stake in First Foundation in Q3 for a value of approximately $8,398,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new position in First Foundation in Q3 for a value of approximately $8,338,000. 69.39% of the shares are held by institutional investors.
In other First Foundation news, Director Diane M. Rubin purchased 1,000 shares of First Foundation in a trade dated Monday, Feb. 7. The shares were purchased at an average price of $26.53 per share, with a total value of $26,530.00. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. 12.60% of the shares are held by company insiders.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Thursday, February 10 received a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 9. This represents an annualized dividend of $0.44 and a dividend yield of 1.81%. This is a positive change from First Foundation’s previous quarterly dividend of $0.09. First Foundation’s dividend payout ratio is currently 18.18%.
About First Foundation (Get a rating)
First Foundation, Inc is a bank holding company that provides a comprehensive platform of financial services to individuals, businesses and organizations. It operates through the following segments: Banking and Wealth Management. The company was founded by John Avak Hakopian and Ulrich Emanuel Keller, Jr.
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