First Foundation (NYSE:FFWM) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

First Foundation (NYSE:FFWM) announced its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06), FiscalAI reports. The company had revenue of $48.36 million for the quarter. First Foundation had a negative net margin of 26.09% and a negative return on equity of 0.07%.

First Foundation Stock Up 0.8%

FFWM stock traded up $0.05 during trading on Thursday, reaching $6.06. 1,458,831 shares of the company traded hands, compared to its average volume of 731,448. First Foundation has a 12 month low of $4.41 and a 12 month high of $6.53. The business has a 50 day simple moving average of $5.98 and a 200 day simple moving average of $5.66. The company has a market capitalization of $502.25 million, a price-to-earnings ratio of -3.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.94 and a current ratio of 0.99.

Analyst Ratings Changes

Several research firms have recently weighed in on FFWM. Zacks Research downgraded shares of First Foundation from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of First Foundation in a report on Monday, December 29th. Stephens raised First Foundation from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Finally, DA Davidson downgraded First Foundation from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, First Foundation presently has an average rating of “Hold”.

About First Foundation

First Foundation Inc (NYSE: FFWM) is a financial services company headquartered in Irvine, California. Through its banking and advisory subsidiaries, the company delivers a range of wealth management, strategic consulting and lending solutions to high-net-worth individuals, families, entrepreneurs and closely held businesses. First Foundation’s integrated business model combines personalized advisory services with commercial and consumer banking capabilities under one corporate umbrella.

The company’s wealth management arm offers financial planning, investment management, trust and estate planning, tax planning and family office services.