First Foundation Inc. (NASDAQ:FFWM – Get Rating) – Research analysts DA Davidson raised their fiscal 2022 earnings per share estimates for First Foundation shares in a report released Wednesday, March 30. DA Davidson analyst G. Tenner now expects the bank to earn $2.42 per share for the year, up from his previous forecast of $2.30.
Other research analysts have also published research reports on the company. Zacks Investment Research upgraded First Foundation from a “sell” rating to a “hold” rating in a Thursday, February 3, research report. Stephens initiated coverage of First Foundation stocks in a report on Wednesday, February 2. They set an “overweight” rating and a target price of $32.00 for the company. Finally, StockNews.com assumed coverage of First Foundation stocks in a report Thursday. They issued a “hold” rating on the stock. Two analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, the stock currently has an average buy rating and an average price target of $30.75.
NASDAQ: FFWM opened at $24.29 on Friday. First Foundation has a 52-week minimum of $20.30 and a 52-week maximum of $29.41. The company has a market capitalization of $1.37 billion, a P/E ratio of 10.04 and a beta of 1.27. The company has a debt ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.95. The stock’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $26.23. First Foundation (NASDAQ:FFWM – Get Rating) last released its quarterly results on Monday, January 31. The bank reported earnings per share of $0.51 for the quarter, beating the consensus estimate of $0.40 by $0.11. First Foundation had a net margin of 34.47% and a return on equity of 13.36%. The company posted revenue of $75.79 million in the quarter, compared to $74.40 million expected by analysts. During the same period last year, the company achieved EPS of $0.50.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Thursday, February 10 received a dividend of $0.11. The ex-dividend date was Wednesday, February 9. This is a boost from First Foundation’s previous quarterly dividend of $0.09. This represents an annualized dividend of $0.44 and a dividend yield of 1.81%. First Foundation’s payout ratio is currently 18.18%.
In other First Foundation news, Director Diane M. Rubin purchased 1,000 shares of the company in a transaction on Monday, February 7. The shares were purchased at an average cost of $26.53 per share, for a total transaction of $26,530.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Company insiders own 12.60% of the company’s shares.
Several hedge funds have recently bought and sold shares of FFWM. American Century Companies Inc. increased its equity stake in First Foundation by 14.9% in Q3. American Century Companies Inc. now owns 97,689 shares of the bank valued at $2,569,000 after buying an additional 12,700 shares last quarter. Bank of America Corp DE increased its stake in First Foundation by 19.3% in the second quarter. Bank of America Corp DE now owns 149,513 shares of the bank valued at $3,366,000 after buying 24,177 additional shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in First Foundation in the third quarter worth approximately $216,000. Western Financial Corporation increased its stake in First Foundation shares by 38.3% during the fourth quarter. Western Financial Corporation now owns 11,000 shares of the bank worth $273,000 after buying 3,046 more shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in First Foundation stock during the third quarter at a value of $673,000. 69.39% of the shares are held by hedge funds and other institutional investors.
Company Profile First Foundation (Get a rating)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking 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 promissory withdrawal accounts, money market accounts and term deposit certificates; and lending 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 installment loans and lines of credit , and home equity lines of credit .
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