First Foundation Inc. (NASDAQ:FFWM) shares traded 22.40% higher at $6.94 on Wall Street last session.
In accordance with the data, 5 analysts cover First Foundation Inc. (NASDAQ:FFWM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $4.00, we find $7.50. Given the previous closing price of $5.67, this indicates a potential upside of 32.28 percent. FFWM stock price is now 53.18% away from the 50-day moving average and -34.70% away from the 200-day moving average. The market capitalization of the company currently stands at $410.36M.
It has been rated a hold by 2 analysts and a buy by 2. Brokers who have rated the stock have averaged $7.40 as their price target over the next twelve months.
With the price target reduced from $17.50 to $16, Piper Sandler Downgraded its rating from Overweight to Neutral for First Foundation Inc. (NASDAQ: FFWM).
In other news, Lake David G., Director bought 2,000 shares of the company’s stock on May 11. The stock was bought for $7,980 at an average price of $3.99. Upon completion of the transaction, the Director now directly owns 137,801 shares in the company, valued at $0.96 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09, Director Lake David G. bought 2,000 shares of the business’s stock. A total of $8,380 was incurred on buying the stock at an average price of $4.19. This leaves the insider owning 135,801 shares of the company worth $0.94 million. Insiders disposed of 225,549 shares of company stock worth roughly $1.57 million over the past 1 year. A total of 0.80% 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 AZORA CAPITAL LP during the first quarter worth $11,924,000. FEDERATED HERMES, INC. invested $2,658,000 in shares of FFWM during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in First Foundation Inc. valued at approximately $2,645,000. BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in FFWM for approximately $2,358,000. JACOBS LEVY EQUITY MANAGEMENT, INC purchased a new stake in FFWM valued at around $1,985,000 in the second quarter. In total, there are 209 active investors with 69.80% ownership of the company’s stock.
During the past 12 months, First Foundation Inc. has had a low of $3.69 and a high of $22.01. The fifty day moving average price for FFWM is $4.59 and a two-hundred day moving average price translates $10.57 for the stock.
The latest earnings results from First Foundation Inc. (NASDAQ: FFWM) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.15, inline with analysts’ expectations of $0.15. This compares to $0.55 EPS in the same period last year. The net profit margin was 19.10% and return on equity was 7.80% for FFWM. The company reported revenue of $137.0 million for the quarter, compared to $79.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 73.1 percent. For the current quarter, analysts expect FFWM to generate $59.77M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/19/2023. Investors who held shares on 05/08/2023 were paid a $0.02 dividend. On an annualized basis, this represents a $0.08 dividend and a 1.15% percent yield. There was an ex-dividend date of 05/05/2023 for this dividend. In terms of dividend payout ratio, FFWM is presently at 28.20%.
First Foundation Inc.(FFWM) 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 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. The company also provides various specialized services comprising online 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, it 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, the company provides support services, including the processing and transmission of financial and economic data for charitable organizations. It operates through a network of branch offices and loan production offices in California, Florida, Nevada, Texas, and Hawaii. The company was founded in 1985 and is headquartered in Dallas, Texas.
