First Foundation Inc. (NASDAQ:FFWM – Get Rating) – Research analysts at Wedbush raised their Q1 2023 earnings per share (EPS) estimates for shares of First Foundation in a report issued on Wednesday, July 27th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.59 per share for the quarter, up from their previous forecast of $0.54. The consensus estimate for First Foundation’s current full-year earnings is $2.19 per share.
FFWM has been the topic of a number of other reports. B. Riley lifted their price objective on First Foundation from $21.00 to $23.00 in a research report on Wednesday, July 27th. Raymond James restated a “maintains” rating on shares of First Foundation in a research note on Wednesday, July 27th.
First Foundation Stock Performance
First Foundation Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 16th. Investors of record on Saturday, August 6th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, August 4th. First Foundation’s dividend payout ratio is currently 17.74%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in FFWM. ProShare Advisors LLC lifted its holdings in shares of First Foundation by 8.2% in the first quarter. ProShare Advisors LLC now owns 9,388 shares of the bank’s stock worth $229,000 after buying an additional 711 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in First Foundation by 23.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,883 shares of the bank’s stock worth $94,000 after purchasing an additional 747 shares in the last quarter. Arizona State Retirement System lifted its stake in First Foundation by 6.2% in the 2nd quarter. Arizona State Retirement System now owns 13,764 shares of the bank’s stock worth $282,000 after purchasing an additional 800 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of First Foundation by 4.0% during the 1st quarter. Prudential Financial Inc. now owns 24,113 shares of the bank’s stock valued at $585,000 after purchasing an additional 917 shares during the last quarter. Finally, Cooper Financial Group grew its position in shares of First Foundation by 13.8% during the second quarter. Cooper Financial Group now owns 10,275 shares of the bank’s stock valued at $210,000 after purchasing an additional 1,244 shares in the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.
First Foundation 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.
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