First Foundation (NASDAQ:FFWM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

First Foundation (NASDAQ:FFWM) posted its quarterly earnings data on Thursday. The bank reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05, Zacks reports. First Foundation had a return on equity of 1.07% and a net margin of 1.34%. The company had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $54.23 million. During the same period in the prior year, the firm earned $0.07 earnings per share.

First Foundation Stock Performance

NASDAQ:FFWM traded up $0.03 on Friday, hitting $7.08. The company’s stock had a trading volume of 1,110,525 shares, compared to its average volume of 1,021,322. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average of $5.93 and a two-hundred day moving average of $7.06. The firm has a market capitalization of $400.09 million, a P/E ratio of -1.93 and a beta of 1.34. First Foundation has a one year low of $4.41 and a one year high of $11.47.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FFWM shares. Wedbush dropped their target price on First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. DA Davidson upgraded First Foundation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $8.00 to $9.00 in a report on Wednesday, July 3rd. Raymond James lowered First Foundation from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 3rd. Stephens upped their target price on First Foundation from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Piper Sandler reiterated a “neutral” rating and set a $6.00 target price on shares of First Foundation in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Foundation presently has a consensus rating of “Hold” and a consensus target price of $7.80.

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.