First Foundation (FFWM) Posts Earnings Results, Hits Expectations

First Foundation (NASDAQ:FFWM) posted its earnings results on Wednesday, April 24th. The bank reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25, MarketWatch Earnings reports. The business had revenue of $49.51 million during the quarter, compared to the consensus estimate of $50.83 million. First Foundation had a return on equity of 9.54% and a net margin of 17.42%.

Shares of NASDAQ FFWM opened at $13.68 on Friday. First Foundation has a 12-month low of $11.79 and a 12-month high of $20.43. The firm has a market capitalization of $619.34 million, a P/E ratio of 11.69, a P/E/G ratio of 1.63 and a beta of 0.83. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.08 and a quick ratio of 0.95.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.20 annualized dividend and a yield of 1.46%. First Foundation’s dividend payout ratio is currently 17.09%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of First Foundation by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 189,215 shares of the bank’s stock valued at $2,433,000 after acquiring an additional 15,260 shares in the last quarter. Triad Investment Management acquired a new stake in shares of First Foundation during the first quarter valued at about $136,000. Dimensional Fund Advisors LP grew its stake in shares of First Foundation by 27.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,280,744 shares of the bank’s stock valued at $20,005,000 after acquiring an additional 279,379 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of First Foundation by 16.4% during the third quarter. Teachers Advisors LLC now owns 67,944 shares of the bank’s stock valued at $1,061,000 after acquiring an additional 9,579 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Foundation by 118.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 59.69% of the company’s stock.

FFWM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered First Foundation from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. BidaskClub downgraded First Foundation from a “sell” rating to a “strong sell” rating in a report on Thursday, February 14th. Finally, ValuEngine downgraded First Foundation from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.08.

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About First Foundation

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily 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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Earnings History for First Foundation (NASDAQ:FFWM)

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