Stock Track | First Foundation Stock Plunges Despite Beating Q3 Estimates

Stock Track

Oct 29, 2024

Shares of First Foundation (NYSE: FFWM) plummeted by 5.28% on Monday, October 29th, 2024, despite the company reporting better-than-expected earnings and revenue for the third quarter of 2024.

The California-based bank holding company announced that its adjusted earnings per share (EPS) for Q3 2024 came in at $0.04, beating the analyst consensus estimate of a loss of $0.54 per share. However, this figure represented a 20% decline compared to the same period last year.

First Foundation's revenue for the quarter also exceeded expectations, reaching $61.019 million and surpassing the analyst consensus estimate of $60.675 million. Nevertheless, the company's revenue fell by 4.32% year-over-year, indicating a slowdown in its top-line growth.

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However, this figure represented a 20% decline compared to the same period last year.</p>\n\n<p>First Foundation's revenue for the quarter also exceeded expectations, reaching $61.019 million and surpassing the analyst consensus estimate of $60.675 million. Nevertheless, the company's revenue fell by 4.32% year-over-year, indicating a slowdown in its top-line growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FFWM","symbol_name":"First Foundation","start_time":0,"source_url":"","article_id":"1185157148","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1185157148","pubTimestamp":1730209465,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of First Foundation  plummeted by 5.28% on Monday, October 29th, 2024, despite the company reporting better-than-expected earnings and revenue for the third quarter of 2024.The California-based bank holding company announced that its adjusted earnings per share  for Q3 2024 came in at $0.04, beating the analyst consensus estimate of a loss of $0.54 per share. 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