First Foundation (NASDAQ: FFWM – Get a rating) will announce its results before the market opens on Tuesday, October 25. Analysts expect the company to report earnings of $0.52 per share for the quarter. Investors wishing to listen to the company’s conference call can do so using this link.
First Foundation (NASDAQ: FFWM – Get a rating) last released its quarterly earnings data on Tuesday, July 26. The bank reported EPS of $0.59 for the quarter, beating the consensus estimate of $0.52 by $0.07. First Foundation had a net margin of 33.93% and a return on equity of 12.47%. On average, analysts expect First Foundation to post EPS of $2 for the current fiscal year and EPS of $2 for the next fiscal year.
The first foundation trades up to 2.5%
FFWM opened at $18.86 on Tuesday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 7.60 and a beta of 1.12. First Foundation has a 12 month minimum of $17.70 and a 12 month maximum of $29.41. The company’s fifty-day simple moving average is $19.46 and its 200-day simple moving average is $20.78. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt ratio of 0.45.
First Foundation announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16. Investors of record on Saturday August 6 received a dividend of $0.11. The ex-dividend date was Thursday, August 4. This represents an annualized dividend of $0.44 and a yield of 2.33%. First Foundation’s dividend payout ratio is currently 17.74%.
Analysts set new price targets
Several research companies have recently commented on the FFWM. B. Riley raised his price target on First Foundation shares from $21.00 to $23.00 in a Wednesday July 27 research report. Piper Sandler cut her price target on First Foundation stock to $24.00 in a Friday, September 30 research report. StockNews.com purported coverage of First Foundation stock in a Wednesday, October 12 research report. They set a “hold” rating on the stock. Finally, Raymond James cut his price target on First Foundation stock from $28.00 to $25.00 and set an “outperform” rating on the stock in a Thursday, July 7 research report.
Institutional investors weigh in on First Foundation
Several institutional investors and hedge funds have recently increased or reduced their stake in FFWM. Ameritas Investment Partners Inc. increased its position in First Foundation by 23.8% in Q1. Ameritas Investment Partners Inc. now owns 3,883 shares of the bank worth $94,000 after buying 747 additional shares last quarter. Hsbc Holdings PLC bought a new equity stake in First Foundation in Q1 valued at around $219,000. ProShare Advisors LLC increased its equity stake in First Foundation by 8.2% in Q1. ProShare Advisors LLC now owns 9,388 shares of the bank valued at $229,000 after purchasing an additional 711 shares during the period. Quantbot Technologies LP increased its equity stake in First Foundation by 4,668.0% in Q1. Quantbot Technologies LP now owns 14,304 shares of the bank valued at $347,000 after purchasing an additional 14,004 shares during the period. Lastly, BNP Paribas Arbitrage SA increased its stake in First Foundation shares by 3.9% in the second quarter. BNP Paribas Arbitrage SA now owns 17,852 shares in the bank valued at $366,000 after purchasing an additional 668 shares during the period. 69.58% of the shares are held by institutional investors.
First Foundation Company Profile
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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