First Foundation (FFWM) Declares $0.11 Dividend
First Foundation said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of February 3, 2023 will receive the payment on February 16, 2023. Previously, the company paid $0.11 per share.
At the current share price of $15.13 / share, the stock's dividend yield is 2.91%. Looking back five years and taking a sample every week, the average dividend yield has been 1.74%, the lowest has been 1.15%, and the highest has been 3.37%. The standard deviation of yields is 0.48 (n=188).
The current dividend yield is 2.41 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.22. 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 0.57%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 22.02% Upside
As of January 31, 2023, the average one-year price target for First Foundation is $18.46. The forecasts range from a low of $16.16 to a high of $21.00. The average price target represents an increase of 22.02% from its latest reported closing price of $15.13.
The projected annual revenue for First Foundation is $430MM, an increase of 17.43%. The projected annual EPS is $1.37, a decrease of 30.14%.
Fund Sentiment
There are 396 funds or institutions reporting positions in First Foundation. This is an increase of just two owner(s) or 0.51% over the last quarter.
Average portfolio weight of all funds dedicated to US:FFWM is 0.1384%, a decrease of 16.1898%. Total shares owned by institutions decreased in the last three months by 0.63% to 44,861K shares.
What are large shareholders doing?
Gmt Capital holds 3,368,494 shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 3,085,494 shares, representing an increase of 8.40%. The firm decreased its portfolio allocation in FFWM by 5.56% over the last quarter.
FCPVX - Fidelity Small Cap Value Fund holds 2,194,875 shares representing 3.90% ownership of the company. In it's prior filing, the firm reported owning 2,192,275 shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in FFWM by 18.67% over the last quarter.
Macquarie Group holds 1,804,190 shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 1,763,847 shares, representing an increase of 2.24%. The firm decreased its portfolio allocation in FFWM by 63.26% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 1,518,870 shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 1,466,233 shares, representing an increase of 3.47%. The firm decreased its portfolio allocation in FFWM by 26.40% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,478,545 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 1,441,399 shares, representing an increase of 2.51%. The firm decreased its portfolio allocation in FFWM by 5.29% 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 story originally appeared on Fintel.