First Foundation (FFWM) Declares $0.01 Dividend
First Foundation said on October 26, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.02 per share.
Shareholders of record as of November 6, 2023 will receive the payment on November 16, 2023.
At the current share price of $5.25 / share, the stock's dividend yield is 0.76%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.93%, the lowest has been 0.87%, and the highest has been 6.65%. The standard deviation of yields is 0.93 (n=236).
The current dividend yield is 1.25 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.01. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.86%.
What is the Fund Sentiment?
There are 340 funds or institutions reporting positions in First Foundation. This is a decrease of 35 owner(s) or 9.33% in the last quarter. Average portfolio weight of all funds dedicated to FFWM is 0.05%, a decrease of 36.60%. Total shares owned by institutions decreased in the last three months by 1.09% to 44,442K shares. 
The put/call ratio of FFWM is 2.00, indicating a bearish outlook.
Analyst Price Forecast Suggests 45.71% Upside
As of November 1, 2023, the average one-year price target for First Foundation is 7.65. The forecasts range from a low of 5.05 to a high of $10.50. The average price target represents an increase of 45.71% from its latest reported closing price of 5.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Foundation is 430MM, an increase of 55.46%. The projected annual non-GAAP EPS is 1.37.
What are Other Shareholders Doing?
FCPVX - Fidelity Small Cap Value Fund holds 2,281K shares representing 4.04% ownership of the company. No change in the last quarter.
Azora Capital holds 2,078K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 1,718K shares, representing an increase of 17.32%. The firm decreased its portfolio allocation in FFWM by 19.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,567K shares representing 2.78% ownership of the company. No change in the last quarter.
Banc Funds Co holds 1,353K shares representing 2.40% ownership of the company. No change in the last quarter.
Strategic Value Bank Partners holds 1,346K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 1,053K shares, representing an increase of 21.76%. The firm decreased its portfolio allocation in FFWM by 33.31% over the last quarter.
First Foundation Background Information
(This description is provided by the company.)
First Foundation Inc. and its subsidiaries offer personal banking, business banking, and private wealth management services, including investment, trust, insurance, and philanthropy services. This comprehensive platform of financial services is designed to help clients at any stage in their financial journey. First Foundation is comprised of an extraordinary team of financial professionals united around a single cause: to enable growth-minded individuals and businesses to boldly live the life they imagined and preserve the legacy they've worked so hard to build. The broad range of financial products and services offered by First Foundation are more consistent with those offered by larger financial institutions, while its high level of personalized service, accessibility, and responsiveness to clients is more aligned with community banks and boutique wealth management firms. This combination of an integrated platform of comprehensive financial services and the products along with personalized service differentiates First Foundation from many of its competitors and has contributed to the growth of its client base and business. Services are offered through bank and/or wealth management branch offices in California, Nevada, and Hawaii.
Additional reading:
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- CHANGE IN CONTROL SEVERANCE COMPENSATION AGREEMENT
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