First Foundation (FFWM) Projected to Post Earnings on Thursday

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

First Foundation Stock Up 2.2%

Shares of FFWM stock opened at $6.19 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The stock has a market cap of $512.64 million, a P/E ratio of -4.62 and a beta of 0.92. The stock has a 50 day moving average of $5.96 and a 200 day moving average of $5.65. First Foundation has a twelve month low of $4.41 and a twelve month high of $6.53.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On First Foundation

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of First Foundation during the 3rd quarter worth about $4,455,000. FJ Capital Management LLC increased its holdings in shares of First Foundation by 39.2% in the 3rd quarter. FJ Capital Management LLC now owns 2,057,660 shares of the bank’s stock valued at $11,461,000 after acquiring an additional 579,086 shares during the period. Two Sigma Investments LP increased its stake in First Foundation by 405.6% in the third quarter. Two Sigma Investments LP now owns 550,398 shares of the bank’s stock valued at $3,066,000 after purchasing an additional 441,545 shares during the period. JPMorgan Chase & Co. increased its position in First Foundation by 633.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 426,714 shares of the bank’s stock valued at $2,377,000 after acquiring an additional 368,527 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of First Foundation by 9.5% during the third quarter. Vanguard Group Inc. now owns 4,106,809 shares of the bank’s stock worth $22,875,000 after purchasing an additional 357,859 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

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.