DA Davidson Predicts Increased Earnings for First Foundation

First Foundation Inc. (NASDAQ:FFWM) – Equities researchers at DA Davidson lifted their FY2024 earnings estimates for First Foundation in a research note issued to investors on Wednesday, October 30th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $0.17 per share 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.

A number of other research firms have also recently commented on FFWM. StockNews.com upgraded First Foundation from a “sell” rating to a “hold” rating in a report on Wednesday. Stephens cut First Foundation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Foundation presently has an average rating of “Hold” and a consensus price target of $7.80.

First Foundation Stock Performance

Shares of FFWM opened at $6.71 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day moving average of $6.84 and a 200-day moving average of $6.32. The company has a market cap of $455.27 million, a PE ratio of -5.99 and a beta of 1.32. First Foundation has a one year low of $4.71 and a one year high of $11.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FFWM. BNP Paribas Financial Markets boosted its holdings in shares of First Foundation by 19.1% during the first quarter. BNP Paribas Financial Markets now owns 91,285 shares of the bank’s stock worth $689,000 after acquiring an additional 14,633 shares during the period. GSA Capital Partners LLP acquired a new position in First Foundation in the 1st quarter valued at $478,000. Quantbot Technologies LP acquired a new position in First Foundation in the 1st quarter valued at $199,000. Empowered Funds LLC increased its position in First Foundation by 8.2% during the 1st quarter. Empowered Funds LLC now owns 46,380 shares of the bank’s stock worth $350,000 after buying an additional 3,500 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of First Foundation by 48.7% during the first quarter. Russell Investments Group Ltd. now owns 114,849 shares of the bank’s stock worth $867,000 after buying an additional 37,627 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

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.