First Foundation (FFWM) Declares $0.02 Dividend

First Foundation said on July 27, 2023 that its board of directors declared a regular quarterly dividend of $0.02 per share ($0.08 annualized). Previously, the company paid $0.02 per share.

Shareholders of record as of August 7, 2023 will receive the payment on August 17, 2023.

At the current share price of $7.18 / share, the stock's dividend yield is 1.11%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.01%, the lowest has been 1.09%, and the highest has been 6.65%. The standard deviation of yields is 0.94 (n=236).

The current dividend yield is 0.95 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -0.03. 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.

The company's 3-Year dividend growth rate is -0.71%.

What is the Fund Sentiment?

There are 376 funds or institutions reporting positions in First Foundation. This is a decrease of 37 owner(s) or 8.96% in the last quarter. Average portfolio weight of all funds dedicated to FFWM is 0.08%, a decrease of 19.00%. Total shares owned by institutions increased in the last three months by 2.50% to 44,875K shares. The put/call ratio of FFWM is 2.34, indicating a bearish outlook.

Analyst Price Forecast Suggests 27.86% Upside

As of August 2, 2023, the average one-year price target for First Foundation is 9.18. The forecasts range from a low of 7.58 to a high of $12.60. The average price target represents an increase of 27.86% from its latest reported closing price of 7.18.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for First Foundation is 430MM, an increase of 38.41%. 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. In it's prior filing, the firm reported owning 2,281K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in FFWM by 54.43% over the last quarter.

Azora Capital holds 1,718K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

First Trust Advisors holds 1,592K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 163K shares, representing an increase of 89.76%. The firm increased its portfolio allocation in FFWM by 392.48% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,567K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 1,492K shares, representing an increase of 4.76%. The firm decreased its portfolio allocation in FFWM by 49.59% over the last quarter.

DCCAX - Delaware Small Cap Core Fund holds 1,549K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 1,519K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in FFWM by 7.50% 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:

• First Foundation Inc. Appoints James Britton as Chief Financial Officer
• As of
• Copyright © 2023 First Foundation Inc. All Rights Reserved This report includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statement
• BYLAWS OF FIRST FOUNDATION INC. A Delaware Corporation (Effective June 23, 2023) TABLE OF CONTENTS
• First Foundation Stockholders Elect the Company’s Ten Director Candidates at the 2023 Annual Meeting

This story originally appeared on Fintel.