DA Davidson discusses First Foundation Inc.’s second quarter 2022 results (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ: FFWM – Get a rating) – DA Davidson Research analysts lowered their second quarter 2022 EPS estimates for First Foundation in a report released Thursday, June 30. DA Davidson analyst G. Tenner now expects the bank to post earnings of $0.56 per share for the quarter, down from its previous estimate of $0.58. First Foundation’s current annual earnings consensus estimate is $2.28 per share. DA Davidson also released earnings estimates for First Foundation for fiscal year 2022 at $2.27 EPS.

FFWM has been the subject of several other research reports. StockNews.com purported coverage of First Foundation stock in a Thursday, March 31 research report. They issued a “hold” rating on the stock. B. Riley lowered his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 research report.

The NASDAQ FFWM opened at $20.48 on Friday. The company’s 50-day moving average is $21.67 and its 200-day moving average is $24.15. First Foundation has a 12 month minimum of $20.18 and a 12 month maximum of $29.41. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt ratio of 0.30. The company has a market capitalization of $1.16 billion, a P/E ratio of 8.29 and a beta of 1.22. First Foundation (NASDAQ: FFWM – Get a rating) last reported quarterly earnings data on Tuesday, April 26. The bank reported EPS of $0.55 for the quarter, beating the consensus estimate of $0.51 by $0.04. First Foundation had a net margin of 34.58% and a return on equity of 13.80%. The company posted revenue of $89.92 million for the quarter, versus analyst estimates of $89.18 million. In the same quarter a year earlier, the company posted earnings per share of $0.50.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Investors of record on Friday, May 6 received a dividend of $0.11 per share. This represents a dividend of $0.44 on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, May 5. First Foundation’s dividend payout ratio (DPR) is currently 17.81%.

A number of institutional investors have been buying and selling stocks recently. BlackRock Inc. increased its stake in First Foundation by 22.1% during the 1st quarter. BlackRock Inc. now owns 3,817,772 shares of the bank worth $92,735,000 after acquiring an additional 691,494 shares during the period. Vanguard Group Inc. increased its stake in First Foundation by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 2,506,062 shares of the bank worth $60,872,000 after acquiring an additional 517,634 shares during the period. GMT Capital Corp increased its stake in First Foundation by 28.7% in the 1st quarter. GMT Capital Corp now owns 2,208,381 shares of the bank worth $53,642,000 after acquiring an additional 492,399 shares during the period. State Street Corp increased its stake in First Foundation by 25.0% in the first quarter. State Street Corp now owns 1,341,747 shares of the bank worth $32,591,000 after acquiring an additional 267,995 shares during the period. Finally, Jennison Associates LLC increased its stake in First Foundation by 2.8% during the 1st quarter. Jennison Associates LLC now owns 1,056,493 shares of the bank worth $25,662,000 after acquiring an additional 28,510 shares during the period. 60.50% of the shares are currently held by institutional investors and hedge funds.

First Foundation Company Profile (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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