Private Asset Management Inc. cut its holdings in shares of BofI Holding, Inc. (NASDAQ:BOFI) by 97.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,215 shares of the financial services provider’s stock after selling 41,469 shares during the quarter. Private Asset Management Inc.’s holdings in BofI Holding were worth $1,215,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in BofI Holding in the 1st quarter valued at $135,000. Endurance Wealth Management Inc. grew its holdings in BofI Holding by 11.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 7,463 shares of the financial services provider’s stock valued at $177,000 after buying an additional 775 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in BofI Holding in the 1st quarter valued at $230,000. Karp Capital Management Corp acquired a new position in BofI Holding in the 1st quarter valued at $254,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in BofI Holding in the 2nd quarter valued at $242,000. 88.26% of the stock is currently owned by institutional investors and hedge funds.
BofI Holding, Inc. (NASDAQ:BOFI) traded up 2.80% during mid-day trading on Friday, hitting $26.82. The stock had a trading volume of 275,690 shares. BofI Holding, Inc. has a 52 week low of $17.95 and a 52 week high of $32.57. The stock has a market capitalization of $1.71 billion, a P/E ratio of 12.96 and a beta of 0.39. The company’s 50 day moving average is $27.06 and its 200-day moving average is $25.26.
BofI Holding (NASDAQ:BOFI) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. BofI Holding had a net margin of 29.36% and a return on equity of 17.38%. The firm had revenue of $93.89 million during the quarter, compared to the consensus estimate of $94.93 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that BofI Holding, Inc. will post $2.41 EPS for the current fiscal year.
A number of brokerages have commented on BOFI. BidaskClub raised BofI Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price objective on shares of BofI Holding in a report on Thursday. ValuEngine lowered BofI Holding from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. FBR & Co reissued a “buy” rating and set a $37.00 target price on shares of BofI Holding in a report on Friday, September 29th. Finally, Craig Hallum reissued a “buy” rating and set a $39.00 target price (up from $35.00) on shares of BofI Holding in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.60.
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About BofI Holding
BofI Holding, Inc (BofI) is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides consumer and business banking products through its branchless, low-cost distribution channels and affinity partners. The Bank has deposit and loan customers, including consumer and business checking, savings and time deposit accounts and financing for single family and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables.
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