First Foundation Inc. to Issue Quarterly Dividend of $0.11 (NASDAQ:FFWM)

First Foundation Inc. (NASDAQ:FFWMGet Rating) declared a quarterly dividend on Wednesday, April 27th, Wall Street Journal reports. Stockholders of record on Friday, May 6th will be given a dividend of 0.11 per share by the bank on Monday, May 16th. This represents a $0.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, May 5th.

First Foundation has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Foundation to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 16.8%.

First Foundation stock opened at $22.29 on Thursday. The business has a 50 day moving average of $24.75 and a 200-day moving average of $25.93. First Foundation has a 1 year low of $21.25 and a 1 year high of $29.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.90. The company has a market capitalization of $1.26 billion, a P/E ratio of 9.21 and a beta of 1.24.

First Foundation (NASDAQ:FFWMGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. First Foundation had a return on equity of 13.36% and a net margin of 34.47%. During the same period in the prior year, the company earned $0.50 earnings per share. Equities analysts anticipate that First Foundation will post 2.32 EPS for the current year.

Several research analysts have issued reports on FFWM shares. B. Riley lowered their price target on shares of First Foundation from $34.00 to $31.00 in a report on Tuesday, April 12th. Stephens started coverage on shares of First Foundation in a report on Wednesday, February 2nd. They set an “overweight” rating and a $32.00 price target for the company. Zacks Investment Research upgraded shares of First Foundation from a “sell” rating to a “hold” rating in a report on Thursday, February 3rd. Finally, StockNews.com started coverage on shares of First Foundation in a report on Thursday, March 31st. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.00.

In related news, Director Diane M. Rubin acquired 1,000 shares of First Foundation stock in a transaction dated Monday, February 7th. The stock was bought at an average price of $26.53 per share, with a total value of $26,530.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of First Foundation by 5.8% during the 4th quarter. BlackRock Inc. now owns 3,126,278 shares of the bank’s stock worth $77,719,000 after buying an additional 171,563 shares during the period. Geode Capital Management LLC grew its position in First Foundation by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 709,363 shares of the bank’s stock valued at $17,634,000 after purchasing an additional 11,549 shares during the period. Millennium Management LLC grew its position in First Foundation by 4.5% in the 4th quarter. Millennium Management LLC now owns 327,304 shares of the bank’s stock valued at $8,137,000 after purchasing an additional 13,978 shares during the period. Charles Schwab Investment Management Inc. grew its position in First Foundation by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 281,209 shares of the bank’s stock valued at $6,991,000 after purchasing an additional 7,758 shares during the period. Finally, Bank of New York Mellon Corp grew its position in First Foundation by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 225,979 shares of the bank’s stock valued at $5,944,000 after purchasing an additional 9,461 shares during the period. 69.39% of the stock is owned by institutional investors.

About First Foundation (Get Rating)

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.

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Dividend History for First Foundation (NASDAQ:FFWM)

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