First Foundation Inc. (NASDAQ: FFWM – Get a rating) declared a quarterly dividend on Wednesday, October 26, the wall street journal reports. Shareholders of record on Monday, November 7 will receive a dividend of 0.11 per share from the bank on Thursday, November 17. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, November 4.
First Foundation has a dividend payout ratio of 20.9%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect First Foundation to earn $2.21 per share next year, meaning the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.9%.
First Core Share Return
Shares of NASDAQ: FFWM traded down $0.63 in the midday session on Wednesday, hitting $15.82. 889,301 shares of the company were traded, compared to its average volume of 259,886. The company has a market capitalization of $892.06 million, a price-earnings ratio of 6.41 and a beta of 1.12 . The company has a debt ratio of 0.45, a quick ratio of 0.94 and a current ratio of 0.99. First Foundation has a one-year minimum of $15.42 and a one-year maximum of $29.41. The stock has a 50-day moving average of $19.07 and a 200-day moving average of $20.53.
First foundation (NASDAQ: FFWM – Get a rating) last released its quarterly earnings data on Tuesday, July 26. The bank reported EPS of $0.59 for the quarter, beating consensus analyst estimates of $0.52 by $0.07. First Foundation had a return on equity of 12.47% and a net margin of 33.93%. As a group, equity research analysts expect First Foundation to post EPS of 2.13 for the current fiscal year.
Wall Street analysts predict growth
A number of analysts have recently commented on FFWM’s actions. StockNews.com began covering First Foundation in a research report on Wednesday, October 12. They set a “hold” rating for the company. DA Davidson downgraded First Foundation from a “buy” rating to a “neutral” rating and set a price target of $18.00 for the company. in a research report Wednesday. Piper Sandler reduced her price target on First Foundation to $24.00 in a Friday, September 30 research report. B. Riley raised his price target on First Foundation from $21.00 to $23.00 in a Wednesday, July 27 research report. Finally, Raymond James cut his price target on First Foundation from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday. Three analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.40.
First Foundation Institutional Negotiation
Several institutional investors have recently changed their positions in FFWM. ProShare Advisors LLC increased its position in First Foundation shares by 8.2% during the first quarter. ProShare Advisors LLC now owns 9,388 shares of the bank worth $229,000 after buying 711 additional shares in the last quarter. JPMorgan Chase & Co. increased its position in First Foundation shares by 87.9% in the first quarter. JPMorgan Chase & Co. now owns 138,554 shares of the bank worth $3,366,000 after buying an additional 64,820 shares last quarter. Raymond James & Associates increased its position in First Foundation shares by 6.7% during the first quarter. Raymond James & Associates now owns 58,474 shares of the bank worth $1,420,000 after buying 3,671 more shares last quarter. Bank of New York Mellon Corp increased its stake in First Foundation by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 261,504 shares of the bank valued at $6,352,000 after buying 33,771 additional shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in First Foundation by 161.8% during the first quarter. Acadian Asset Management LLC now owns 17,382 shares of the bank valued at $422,000 after purchasing an additional 10,743 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s shares.
First Foundation Company Profile
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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