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

First Foundation (NASDAQ:FFWM) issued its earnings results on Thursday. The bank reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. The firm had revenue of $164.57 million for the quarter, compared to analyst estimates of $54.23 million. First Foundation had a net margin of 1.34% and a return on equity of 1.07%. During the same quarter last year, the business posted $0.07 earnings per share.

First Foundation Stock Up 0.4 %

FFWM stock traded up $0.03 during midday trading on Friday, reaching $7.08. 1,110,525 shares of the company’s stock traded hands, compared to its average volume of 1,021,322. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.84. The firm’s fifty day moving average price is $5.93 and its 200-day moving average price is $7.06. First Foundation has a 52 week low of $4.41 and a 52 week high of $11.47. The company has a market cap of $400.09 million, a price-to-earnings ratio of -1.93 and a beta of 1.34.

Analyst Ratings Changes

A number of research analysts have recently commented on FFWM shares. Wedbush cut their price objective on First Foundation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Stephens lifted their price target on First Foundation from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com cut shares of First Foundation from a “hold” rating to a “sell” rating in a research report on Friday. DA Davidson raised First Foundation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $9.00 in a report on Wednesday, July 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 target price on shares of First Foundation in a research report on Wednesday, July 3rd. One 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. According to data from MarketBeat.com, the stock has an average 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.