First Foundation Inc. (NASDAQ:FFWM) to post earnings of $0.59 per share in the second quarter of 2022, according to B. Riley forecast

First Foundation Inc. (NASDAQ:FFWM – Get Rating) – Equity researchers B. Riley have raised their second quarter 2022 earnings per share estimates for First Foundation shares in a research report delivered to clients and investors Monday, July 11. B. Riley analyst S. Moss now expects the bank to post earnings per share of $0.59 for the quarter, up from its previous estimate of $0.58. B. Riley currently has a “neutral” rating and a target price of $21.00 on the stock. First Foundation’s current annual earnings consensus estimate is $2.26 per share. B. Riley also released estimates for First Foundation Q4 2022 earnings at $0.55 EPS, Q1 2023 earnings at $0.48 EPS, Q2 2023 earnings at $0.47 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.53 EPS and fiscal year 2023 earnings at $2.00 EPS.

Other equity research analysts have also recently released reports on the company. Raymond James cut his price target on First Foundation from $28.00 to $25.00 and set an “outperform” rating for the company in a Thursday, July 7 research note. supported First Foundation’s coverage in a research note on Thursday, March 31. They set a “holding” rating for the company.

First Foundation shares opened at $18.91 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt ratio of 0.30. First Foundation has a 12 month minimum of $18.80 and a 12 month maximum of $29.41. The company has a fifty-day simple moving average of $21.21 and a 200-day simple moving average of $23.85. The stock has a market capitalization of $1.07 billion, a PE ratio of 7.66 and a beta of 1.21.

First Foundation (NASDAQ:FFWM – Get Rating) last released its results on Tuesday, April 26. The bank reported EPS of $0.55 for the quarter, beating the consensus estimate of $0.51 by $0.04. The company posted revenue of $89.92 million in the quarter, compared to $89.18 million expected by analysts. First Foundation had a return on equity of 13.80% and a net margin of 34.58%. During the same period last year, the company achieved EPS of $0.50.

A number of hedge funds have recently bought and sold shares of FFWM. Andrew Hill Investment Advisors Inc. bought a new position in First Foundation during the fourth quarter worth approximately $48,000. Prospera Financial Services Inc bought a new position in First Foundation during the first quarter worth approximately $84,000. Ameritas Investment Partners Inc. increased its stake in First Foundation by 23.8% during the first quarter. Ameritas Investment Partners Inc. now owns 3,883 shares of the bank worth $94,000 after acquiring 747 additional shares in the last quarter. Amalgamated Bank bought a new position in First Foundation during the first quarter worth approximately $137,000. Finally, Acadian Asset Management LLC acquired a new position in First Foundation during the fourth quarter worth approximately $165,000. Hedge funds and other institutional investors hold 60.50% of the company’s shares.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, May 6 received a dividend of $0.11 per share. The ex-dividend date was Thursday, May 5. This represents an annualized dividend of $0.44 and a yield of 2.33%. First Foundation’s dividend payout ratio is currently 17.81%.

About First Foundation (Get an assessment)

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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