Why did First Foundation (FFWM) stock fall 27% today?

First Foundation (NYSE:FFWM) the company’s shares are falling on Wednesday after the financial services company released details of its second-quarter 2024 financial results report.

First Foundation is scheduled to release its second-quarter earnings report before the markets open on July 25. It will also hold a conference call at 11:00 a.m. ET that same day.

First Foundation President and CEO Scott Kavanaugh will host the conference call, where he will discuss the company’s financial results and provide updates on its recent activities.

Investors will note that First Foundation did not provide preliminary results in context with its upcoming earnings report.

What to expect from FFWM shares

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

Analysts expect First Foundation to report adjusted earnings per share on revenue of $54.48 million. In comparison, the company reported adjusted EPS of 7 cents on revenue of $61.1 million in the same period last year.

FFWM shares were down 27.3% Wednesday morning. The stock was also down 31.1% year-to-date when markets closed Tuesday.

Investors looking for the latest stock market news are in luck!

On Wednesday, we have all the hottest stock market news that traders need to know! This includes everything that’s happening with stocks Shapes (NASDAQ:SHW) warehouse, Zoom car (NASDAQ:ZCAR) spare and Power of Life (NASDAQ:WWPR) stocks today. All this information is available at the links below!

More stock market news for Wednesday

As of 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 the author’s own, subject to InvestorPlace.com Publication Guidelines.