DA Davidson Forecasts Stronger Earnings for First Foundation

First Foundation Inc. (NASDAQ:FFWM - Free Report) - Analysts at DA Davidson boosted their FY2024 earnings per share estimates for shares of First Foundation in a research note issued to investors on Wednesday, October 30th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $0.17 for the year, up from their prior estimate of ($0.19). The consensus estimate for First Foundation's current full-year earnings is ($0.13) per share. DA Davidson also issued estimates for First Foundation's FY2025 earnings at $0.54 EPS.

Other analysts have also issued reports about the company. Stephens lowered First Foundation from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. StockNews.com raised First Foundation from a "sell" rating to a "hold" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.80.

First Foundation Trading Down 0.3 %

NASDAQ:FFWM traded down $0.02 during mid-day trading on Friday, reaching $6.71. The company's stock had a trading volume of 441,677 shares, compared to its average volume of 613,882. The company's fifty day simple moving average is $6.84 and its two-hundred day simple moving average is $6.32. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. First Foundation has a twelve month low of $4.71 and a twelve month high of $11.47. The stock has a market cap of $455.27 million, a P/E ratio of -6.03 and a beta of 1.32.

Institutional Trading of First Foundation

Institutional investors have recently modified their holdings of the company. Caxton Associates LP acquired a new stake in shares of First Foundation during the first quarter worth $123,000. Creative Planning raised its position in shares of First Foundation by 35.8% during the third quarter. Creative Planning now owns 16,463 shares of the bank's stock worth $103,000 after purchasing an additional 4,336 shares during the period. Boston Partners acquired a new stake in shares of First Foundation during the first quarter worth $128,000. Hollencrest Capital Management raised its position in shares of First Foundation by 76.5% during the third quarter. Hollencrest Capital Management now owns 19,840 shares of the bank's stock worth $124,000 after purchasing an additional 8,600 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of First Foundation by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 20,759 shares of the bank's stock worth $136,000 after purchasing an additional 1,632 shares during the period. Institutional investors and hedge funds own 73.10% of the company's stock.

About First Foundation

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.