First Foundation (NASDAQ:FFWM) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Posted by on Jan 28th, 2021 // Comments off

First Foundation (NASDAQ:FFWM) issued its earnings results on Monday. The bank reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06, MarketWatch Earnings reports. First Foundation had a return on equity of 12.10% and a net margin of 25.59%.

NASDAQ:FFWM opened at $20.50 on Thursday. The business has a 50 day moving average of $20.38 and a 200 day moving average of $16.81. First Foundation has a 1-year low of $8.01 and a 1-year high of $22.11. The company has a market capitalization of $914.83 million, a price-to-earnings ratio of 11.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 15th. Investors of record on Friday, February 5th will be given a $0.09 dividend. This is an increase from First Foundation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, February 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.76%. First Foundation’s payout ratio is presently 22.40%.

In related news, Chairman Ulrich E. Keller, Jr. sold 15,715 shares of the firm’s stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $18.95, for a total value of $297,799.25. Following the completion of the sale, the chairman now owns 20,000 shares of the company’s stock, valued at $379,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell M. Rosenberg sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $19.50, for a total value of $195,000.00. The disclosure for this sale can be found here. Insiders sold 50,715 shares of company stock valued at $965,799 in the last ninety days. 13.90% of the stock is currently owned by insiders.

Several research analysts have commented on the company. B. Riley raised their target price on First Foundation from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, January 7th. Raymond James lifted their price target on First Foundation from $19.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday. TheStreet upgraded First Foundation from a “c” rating to a “b-” rating in a research report on Monday, November 16th. Zacks Investment Research downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 11th. Finally, Piper Sandler dropped their price target on First Foundation from $19.50 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.60.

First Foundation Company Profile

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 certificate of deposits; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and 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.

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Earnings History for First Foundation (NASDAQ:FFWM)

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