Traders Buy Large Volume of BofI Holding Put Options (BOFI)

BofI Holding, Inc. (NASDAQ:BOFI) was the target of some unusual options trading on Monday. Traders purchased 3,959 put options on the stock. This is an increase of 1,951% compared to the typical volume of 193 put options.

BofI Holding (NASDAQ:BOFI) opened at $25.68 on Thursday. The stock has a market capitalization of $1,630.00, a PE ratio of 12.12, a PEG ratio of 1.08 and a beta of 0.40. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.06. BofI Holding has a fifty-two week low of $21.60 and a fifty-two week high of $32.57.

BofI Holding (NASDAQ:BOFI) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $93.89 million during the quarter, compared to analysts’ expectations of $94.93 million. BofI Holding had a return on equity of 17.00% and a net margin of 29.36%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. sell-side analysts expect that BofI Holding will post 2.38 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. BidaskClub upgraded BofI Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. ValuEngine cut BofI Holding from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. FBR & Co reaffirmed a “buy” rating and set a $37.00 price target on shares of BofI Holding in a research report on Friday, September 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 price target on shares of BofI Holding in a research report on Thursday, October 26th. Finally, Zacks Investment Research cut BofI Holding from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One 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 company presently has an average rating of “Buy” and a consensus target price of $33.60.

In other news, Director Edward James Ratinoff sold 7,540 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $26.80, for a total value of $202,072.00. Following the sale, the director now directly owns 29,600 shares in the company, valued at $793,280. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.24% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of BOFI. Victory Capital Management Inc. lifted its holdings in shares of BofI Holding by 69.9% in the 3rd quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock valued at $164,000 after buying an additional 2,365 shares during the period. Endurance Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 775 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new position in shares of BofI Holding in the 3rd quarter valued at about $211,000. Stoneridge Investment Partners LLC purchased a new position in shares of BofI Holding in the 3rd quarter valued at about $214,000. Finally, Jaffetilchin Investment Partners LLC purchased a new position in shares of BofI Holding in the 3rd quarter valued at about $228,000. 85.55% of the stock is owned by institutional investors and hedge funds.

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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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