Zacks Investment Research downgraded shares of BofI Holding, Inc. (NASDAQ:BOFI) from a hold rating to a sell rating in a report issued on Friday, October 27th.
According to Zacks, “Bofi Holding is the holding company for Bank of Internet USA, a consumer-focused, nationwide savings bank operating primarily through the Internet from a single location in San Diego, California. They provide a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single family loans for investment. “
BOFI has been the topic of a number of other research reports. BidaskClub raised BofI Holding from a buy rating to a strong-buy rating in a report on Friday, August 11th. ValuEngine downgraded 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 issued a $37.00 price target on shares of BofI Holding in a report on Friday, September 29th. Craig Hallum reissued a buy rating and issued a $39.00 price target (up previously from $35.00) on shares of BofI Holding in a report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reissued a market perform rating and issued a $31.00 price target on shares of BofI Holding in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $33.60.
Shares of BofI Holding (NASDAQ:BOFI) opened at $24.61 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.13. BofI Holding has a 12 month low of $21.60 and a 12 month high of $32.57. The company has a market capitalization of $1,566.57, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.03 and a beta of 0.40.
BofI Holding (NASDAQ:BOFI) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. BofI Holding had a return on equity of 17.00% and a net margin of 29.36%. The business had revenue of $93.89 million during the quarter, compared to analyst estimates of $94.93 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. sell-side analysts anticipate that BofI Holding will post 2.38 EPS for the current fiscal year.
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In other news, Director Edward James Ratinoff sold 7,540 shares of BofI Holding stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $26.80, for a total transaction of $202,072.00. Following the transaction, the director now directly owns 29,600 shares in the company, valued at approximately $793,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.24% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BOFI. UBS Asset Management Americas Inc. grew its holdings in shares of BofI Holding by 45.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,997 shares of the financial services provider’s stock worth $836,000 after acquiring an additional 9,986 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of BofI Holding in the 1st quarter worth $254,000. Parametric Portfolio Associates LLC grew its holdings in shares of BofI Holding by 30.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 86,392 shares of the financial services provider’s stock worth $2,257,000 after acquiring an additional 20,408 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of BofI Holding by 54.5% in the 1st quarter. OppenheimerFunds Inc. now owns 11,977 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 4,226 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of BofI Holding by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 451,530 shares of the financial services provider’s stock worth $11,799,000 after acquiring an additional 20,808 shares during the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
BofI Holding Company Profile
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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