Foundation capital

Research analysts set First Foundation Inc. earnings expectations for fiscal 2022 (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWM – Get Rating) – DA Davidson analysts cut their fiscal 2022 earnings per share (EPS) estimates for First Foundation shares in a research report released Wednesday, April 27 . DA Davidson analyst G. Tenner now expects the bank to post earnings of $2.35 per share for the year, down from its previous estimate of $2.42. DA Davidson also released earnings estimates for First Foundation for fiscal year 2023 at $2.73 EPS.

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

NASDAQ:FFWM shares opened at $22.08 on Friday. First Foundation has a 12-month minimum of $21.25 and a 12-month maximum of $29.41. The company has a market capitalization 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 company has a current ratio of 0.95, a quick ratio of 0.90 and a debt ratio of 0.20.

First Foundation (NASDAQ:FFWM – Get Rating) last released its results on Tuesday, April 26. The bank reported earnings per share of $0.55 for the quarter, beating 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%. In the same period a year earlier, the company posted earnings per share of $0.50.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 16. Investors of record 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%.

Separately, director Diane M. Rubin purchased 1,000 shares of the company in a transaction that took place on Monday, February 7. The shares were acquired 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 hold 13.90% of the shares of the company.

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in First Foundation stock by 14.9% in Q3. American Century Companies Inc. now owns 97,689 shares of the bank valued at $2,569,000 after acquiring 12,700 additional shares in the last quarter. Assenagon Asset Management SA bought a new position in First Foundation in the 4th quarter for a value of approximately $808,000. Allspring Global Investments Holdings LLC acquired a new stake in First Foundation during the 4th quarter at a value of $9,476,000. Los Angeles Capital Management LLC purchased a new equity stake in First Foundation during the third quarter for $216,000. Finally, Western Financial Corporation increased its equity stake in First Foundation by 38.3% during the fourth quarter. Western Financial Corporation now owns 11,000 shares of the bank valued at $273,000 after buying 3,046 additional shares in the last quarter. Hedge funds and other institutional investors own 69.39% of the company’s shares.

About 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 .

Further reading

Earnings history and estimates for First Foundation (NASDAQ:FFWM)

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