In yesterday’s Wall Street session, First Foundation Inc. (NASDAQ:FFWM) shares traded at $15.02, up 1.35% from the previous session.
5 analysts cover First Foundation Inc. (NASDAQ:FFWM), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $17.50, we find $19.00. Given the previous closing price of $14.82, this indicates a potential upside of 28.21 percent. FFWM stock price is now -15.39% away from the 50-day moving average and -29.72% away from the 200-day moving average. The market capitalization of the company currently stands at $831.51M.
The stock has received a hold rating from 1 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $18.90 as their price target over the next twelve months.
With the price target maintained at $18, DA Davidson recently Downgraded its rating from Buy to Neutral for First Foundation Inc. (NASDAQ: FFWM). On July 11, 2022, B. Riley Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $21, while ‘Stephens’ rates the stock as ‘Overweight’.
In other news, PAGLIARINI ELIZABETH A., Director bought 1,000 shares of the company’s stock on Apr 29. The stock was bought for $22,390 at an average price of $22.39. Upon completion of the transaction, the Director now directly owns 1,672 shares in the company, valued at $25113.44. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 07, Director Rubin Diane M. bought 1,000 shares of the business’s stock. A total of $26,530 was incurred on buying the stock at an average price of $26.53. This leaves the insider owning 11,076 shares of the company worth $0.17 million. Insiders disposed of 18,000 shares of company stock worth roughly $0.27 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FFWM stock. A new stake in First Foundation Inc. shares was purchased by MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. during the first quarter worth $4,371,000. AMERIPRISE FINANCIAL INC invested $2,833,000 in shares of FFWM during the first quarter. In the first quarter, BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in First Foundation Inc. valued at approximately $2,689,000. STATE OF NEW JERSEY COMMON PENSION FUND D acquired a new stake in FFWM for approximately $1,803,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in FFWM valued at around $868,000 in the second quarter. In total, there are 227 active investors with 67.80% ownership of the company’s stock.
On Tuesday morning First Foundation Inc. (NASDAQ: FFWM) stock kicked off with the opening price of $15.05. During the past 12 months, First Foundation Inc. has had a low of $14.05 and a high of $28.99. The fifty day moving average price for FFWM is $17.75 and a two-hundred day moving average price translates $21.37 for the stock.
The latest earnings results from First Foundation Inc. (NASDAQ: FFWM) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $0.51, inline with analysts’ expectations of $0.51. This compares to $0.83 EPS in the same period last year. The net profit margin was 34.40% and return on equity was 11.80% for FFWM. The company reported revenue of $108.75 million for the quarter, compared to $61.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 75.43 percent. For the current quarter, analysts expect FFWM to generate $100.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/17/2022. Investors who held shares on 11/07/2022 were paid a $0.11 dividend. On an annualized basis, this represents a $0.44 dividend and a 2.93% percent yield. There was an ex-dividend date of 11/04/2022 for this dividend. In terms of dividend payout ratio, FFWM is presently at 15.40%.
First Foundation Inc.(FFWM) Company Profile
First Foundation Inc., through its subsidiaries, provides personal banking, business banking, and private wealth management 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 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. It also provides various specialized services comprising trust services, internet and mobile banking, remote deposit capture services, merchant credit card services, ATM cards, Visa debit cards, and business sweep accounts, as well as insurance brokerage services and equipment financing solutions. In addition, the company offers investment management and financial planning services; treasury management services; advisory and coordination services in the areas of estate planning, retirement planning, and charitable and business ownership issues; and financial, investment, and economic advisory and related services. Further, it provides support services, including the processing and transmission of financial and economic data for charitable organizations. The company operates through a network of 28 branch offices and 3 loan production offices in California, Nevada, Texas, and Hawaii. First Foundation Inc. was founded in 1985 and is headquartered in Dallas, Texas.