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

First Foundation (NASDAQ:FFWM) released 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. 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 analyst estimates of $54.23 million. During the same quarter in the previous year, the company posted $0.07 EPS.

First Foundation Stock Performance

Shares of NASDAQ:FFWM traded up $0.03 on Friday, reaching $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 stock’s 50-day moving average is $5.93 and its two-hundred day moving average 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 debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $400.09 million, a P/E ratio of -1.93 and a beta of 1.34.

Analyst Ratings Changes

Several analysts recently weighed in on FFWM shares. StockNews.com downgraded First Foundation from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James lowered First Foundation from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 3rd. DA Davidson upgraded First Foundation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Wednesday, July 3rd. Piper Sandler reissued a “neutral” rating and issued a $6.00 price objective on shares of First Foundation in a research note on Wednesday, July 3rd. Finally, Stephens lifted their price objective on shares of First Foundation from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, First Foundation has a consensus rating of “Hold” and a consensus price target 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.