First Foundation Up 11.04% To $5.43 After Earnings

First Foundation (FFWM) said before open Thursday that it broke even in quarter three 2023.

In the same quarter a year ago, the company earned $0.51 per share on revenue of $99.9 million.

The stock is up 11.04% to $5.43 after the report.

First Foundation's profit margins maintained as both earnings and revenue declined at the same pace.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

First Foundation has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting First Foundation in the top 25% of stocks. The firm set a 52-week low on July 11, 2023 at $3.69 and set a 52-week high on February 2, 2023 at $16.7.

First Foundation Inc is a financial services company. It is engaged in providing investment management and financial planning services for high net-worth individuals, retirement plans, charitable institutions, and private foundations. The company focuses on segments namely Banking and Wealth Management. It also offers loans to individuals and entities that own and operate multifamily residential and commercial real estate properties as well as business banking products and services to small to moderate-sized businesses, professional firms, and consumer banking products and services to individuals.