First Foundation (NASDAQ: FFWM – Get a rating) released its quarterly earnings data on Tuesday. The bank reported earnings per share of $0.55 for the quarter, beating the Zacks consensus estimate of $0.51 by $0.04, MarketWatch Earnings reports. First Foundation had a return on equity of 13.36% and a net margin of 34.47%. In the same quarter last year, the company achieved EPS of $0.50.
Shares of Stock FFWM opened at $22.08 on Friday. The company has a debt ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.95. The company has a market capitalization of $1.25 billion, a P/E ratio of 9.12 and a beta of 1.24. The company’s 50-day moving average price is $24.66 and its 200-day moving average price is $25.90. First Foundation has a one-year minimum of $21.25 and a one-year maximum of $29.41.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 16. Shareholders of record on Friday, May 6 will receive a dividend of $0.11 per share. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 5. First Foundation’s dividend payout ratio is currently 18.18%.
In related news, the director Diane M. Rubin bought 1,000 shares of the company in a transaction that took place on Monday, February 7. The shares were purchased at an average price of $26.53 per share, for a total transaction of $26,530.00. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders of the company hold 13.90% of the shares of the company.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in FFWM. Morgan Stanley increased its position in First Foundation by 3,159.1% in the second quarter. Morgan Stanley now owns 20,304 shares of the bank valued at $456,000 after purchasing an additional 19,681 shares during the period. LPL Financial LLC increased its stake in First Foundation by 34.0% during the third quarter. LPL Financial LLC now owns 14,500 shares of the bank worth $381,000 after buying 3,679 additional shares in the last quarter. Janus Henderson Group PLC acquired a new stake in First Foundation during Q3 valued at approximately $240,000. BNP Paribas Arbitrage SA increased its position in First Foundation by 118.6% in the third quarter. BNP Paribas Arbitrage SA now owns 11,301 shares in the bank valued at $297,000 after buying an additional 6,132 shares last quarter. Finally, Bank of New York Mellon Corp increased its stake in First Foundation shares by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 225,979 shares of the bank valued at $5,944,000 after purchasing an additional 9,461 shares during the period. 69.39% of the shares are held by institutional investors.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded First Foundation’s shares from a “sell” to a “hold” rating in a Thursday, Feb. 3 research report. StockNews.com launched coverage on the actions of First Foundation in a report on Thursday, March 31. They issued a “holding” rating on the stock. B. Riley cut his price target on First Foundation shares from $34.00 to $31.00 in a Tuesday, April 12 report. Finally, Stephens launched a coverage on First Foundation in a report on Wednesday, February 2. They issued an “overweight” rating and a price target of $32.00 on the stock. Two analysts rated the stock with a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.00.
First Foundation Company Profile (Get a rating)
First Foundation Inc, through its subsidiaries, provides retail, corporate and private wealth management banking 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 promissory withdrawal accounts, money market accounts and term deposit certificates; and lending products consisting of multi-family and single-family residential real estate loans, commercial real estate loans and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit , and home equity lines of credit .
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