First Foundation Inc. (NASDAQ:FFWM – Get Rating) announced a quarterly dividend on Wednesday, October 26, according to The Wall Street Journal. Shareholders of record on Monday 7th November will receive a dividend of 0.11 per share from the bank on Thursday 17th November. That equates to a dividend of $0.44 on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday November 4th.
The First Foundation has a payout ratio of 20.9%, which means its dividend is sufficiently backed by earnings. Equity analysts expect First Foundation to earn $2.21 per share over the next year, meaning the company should still be able to pay its $0.44 annual dividend with an expected future payout ratio of 19 .9% to cover.
Performance of the first Foundation share
Shares of NASDAQ:FFWM fell $0.63 during midday trade on Wednesday to hit $15.82. 889,301 shares of the company were traded, compared to an average volume of 259,886. The company has a market cap of $892.06 million, a price-to-earnings ratio of 6.41 and a beta of 1.12. The company has a debt to equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 0.99. First Foundation has a yearly low of $15.42 and a yearly high 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 Rating) last released its quarterly earnings data on Tuesday, July 26th. The bank reported earnings per share of $0.59 for the quarter, beating analyst consensus 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 analysts expect First Foundation to post 2.13 EPS for the current fiscal year.
Wall Street analysts forecast growth
A number of analysts recently commented on FFWM stock. StockNews.com began coverage of First Foundation in a research report on Wednesday, October 12. They give the company a “hold” rating. DA Davidson lowered 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 on Wednesday. Piper Sandler lowered her price target on First Foundation to $24.00 in a research report on Friday, September 30th. B. Riley increased its price target on First Foundation from $21.00 to $23.00 in a research report on Wednesday, July 27. Finally, Raymond James lowered his price target on First Foundation to $20.00 from $23.00 and gave the company an Outperform rating in a research report on Wednesday. Three analysts have assigned a hold rating to the stock and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $23.40.
Institutional trading of the First Foundation
Several institutional investors have recently changed their positions in FFWM. ProShare Advisors LLC increased its position in First Foundation stock by 8.2% in the first quarter. ProShare Advisors LLC now owns 9,388 shares of the bank, valued at $229,000, after purchasing an additional 711 shares last quarter. JPMorgan Chase & Co. increased its position in First Foundation stock by 87.9% in the first quarter. JPMorgan Chase & Co. now owns 138,554 shares of the bank, valued at $3,366,000, after purchasing an additional 64,820 shares last quarter. Raymond James & Associates increased its position in First Foundation stock by 6.7% in the first quarter. Raymond James & Associates now owns 58,474 shares of the bank, valued at $1,420,000, after purchasing an additional 3,671 shares last quarter. Bank of New York Mellon Corp increased its stake in First Foundation by 14.8% in the first quarter. The Bank of New York Mellon Corp now owns 261,504 shares of the bank worth $6,352,000 after buying another 33,771 shares 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 last quarter. Hedge funds and other institutional investors own 69.58% of the company’s shares.
Company profile of the first foundation
First Foundation Inc, through its subsidiaries, provides personal banking, business banking and private wealth management 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 transferable withdrawal accounts, money market accounts and time 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, and consumer loans such as personal installment loans and lines of credit and home equity lines of credit.
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