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First Foundation (FFWM)
NYSE:FFWM
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.04Last Year’s EPS
$0.05Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -20.08%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were strategic moves to improve the balance sheet, increase in C&I lending, and an uptick in net interest margin, the call also highlighted significant challenges such as a substantial net loss, negative pretax pre-provision revenue, and an increase in nonperforming assets. The efficiency ratio also worsened, indicating operational challenges.Company Guidance
During the third quarter 2024 earnings call, First Foundation's management provided a comprehensive update on their strategic initiatives and financial performance. The company completed a $228 million capital raise and moved $1.9 billion of multifamily loans to held-for-sale status, resulting in a $117.5 million fair value adjustment. The net loss attributable to common shareholders was $82.2 million, or $1.23 per share, with a tangible book value per share of $15.71. The company achieved a net interest margin of 1.5%, up from 1.36% in the previous quarter. Total deposits were $10.3 billion, and loan balances ended the quarter at $9.9 billion. The efficiency ratio was 98.1%, and the nonperforming assets to total assets ratio increased to 0.33%. First Foundation aims to reduce exposure to fixed-rate loans and high-cost wholesale funding, targeting a $0.5 billion loan securitization in the fourth quarter while continuing to evaluate other loan sales and securitizations in 2025.Capital Raise and Balance Sheet Realignment
Completed a $228 million capital raise and moved $1.9 billion of multifamily loans to available for sale, improving capital ratios.
Increase in Net Interest Margin
The net interest margin increased to 1.5% during the quarter compared to 1.36% in the second quarter of 2024.
C&I Lending Growth
Continued increase in C&I lending during the quarter, providing nice spreads over funding costs.
Near Record Assets Under Management
First Foundation Advisors closed the quarter at near record assets under management with $5.5 billion.
Improved Efficiency in Funding Costs
Cost of deposits decreased 8 basis points to 3.41%.
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FFWM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FFWM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $7.77 | $7.23 | -6.95% |
| Jul 25, 2024 | $6.71 | $7.05 | +5.07% |
| Apr 25, 2024 | $7.04 | $6.69 | -4.97% |
| Jan 25, 2024 | $10.90 | $10.19 | -6.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Foundation (FFWM) report earnings?
First Foundation (FFWM) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is First Foundation (FFWM) earnings time?
First Foundation (FFWM) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FFWM EPS forecast?
FFWM EPS forecast for the fiscal quarter 2024 (Q4) is $0.04.
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