Stock Market

Why Is First Foundation (FFWM) Stock Down 27% Today?

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First Foundation (NYSE:FFWM) stock is falling on Wednesday on details for the release of the financial services company’s earnings report for the second quarter of 2024.

First Foundation is set to release its earnings report for the second quarter of the year before markets open on July 25. It will also hold a conference call at 11:00 a.m. Eastern Time that same day.

First Foundation president and CEO Scott Kavanaugh will host that conference call. He will discuss the company’s financial performance and provide updates on its recent activities.

Investors will note that First Foundation hasn’t provided any preliminary results for its upcoming earnings report.

What to Expect From FFWM Stock

This earnings report could act as a catalyst for First Foundation’s shares when it is released. Whether it’s a positive or negative catalyst will depend on how the company performs in Q2 compared to Wall Street’s estimates.

Analysts’ expectations for First Foundation include flat adjusted earnings per share alongside revenue of $54.48 million. For comparison, the company reported adjusted EPS of 7 cents with revenue of $61.1 million in the same period of the year prior.

FFWM stock is down 27.3% as of Wednesday morning. When markets closed on Tuesday, it was also down 31.1% year-to-date.

Investors seeking out even more of the most recent stock market stories are in luck!

We have all of the hottest stock market news traders need to know about on Wednesday! That includes everything happening with shares of Shapeways (NASDAQ:SHPW) stock, Zoomcar (NASDAQ:ZCAR) stock and Vivopower (NASDAQ:VVPR) stock today. All of that info is ready at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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