First Foundation (FFWM) to Release Quarterly Earnings on Thursday

First Foundation (NASDAQ:FFWM) is expected to release its results before the market opens on Thursday, January 29th. Analysts expect First Foundation to post earnings of $0.02 per share and revenue of $58.35 million for the quarter.

First Foundation Trading Up 3.8%

NASDAQ FFWM opened at $6.34 on Thursday. The company has a market cap of $525.48 million, a price-to-earnings ratio of -4.73 and a beta of 0.92. First Foundation has a 52 week low of $4.41 and a 52 week high of $6.47. The business has a 50 day moving average price of $5.86 and a 200-day moving average price of $5.63. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 1.80.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson reissued a “neutral” rating and issued a $6.00 price target (down previously from $8.50) on shares of First Foundation in a research report on Thursday, October 30th. Piper Sandler set a $6.75 price objective on shares of First Foundation and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Stephens upgraded shares of First Foundation from an “underperform” rating to an “overweight” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.58.

Institutional Trading of First Foundation

Institutional investors and hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new position in First Foundation in the third quarter worth $68,000. Franklin Resources Inc. bought a new position in First Foundation during the third quarter valued at about $147,000. Quantbot Technologies LP increased its holdings in First Foundation by 4.9% during the second quarter. Quantbot Technologies LP now owns 58,055 shares of the bank’s stock worth $296,000 after buying an additional 2,692 shares during the last quarter. JPMorgan Chase & Co. raised its position in First Foundation by 20.6% in the second quarter. JPMorgan Chase & Co. now owns 58,187 shares of the bank’s stock worth $297,000 after acquiring an additional 9,932 shares during the period. Finally, Numerai GP LLC purchased a new position in First Foundation in the third quarter valued at about $352,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

First Foundation Company Profile

First Foundation Inc is a bank holding company headquartered in Irvine, California, that provides a suite of banking and wealth management services through its subsidiary, First Foundation Bank, and affiliated advisory firms. The company’s primary focus lies in serving high-net-worth individuals, privately held businesses, professionals and entrepreneurs, offering a combination of personalized banking solutions and tailored investment advice.

On the banking side, First Foundation offers deposit products, business checking accounts, cash management services and specialized lending solutions.