BofI (BOFI) Cut to Hold at BidaskClub

BidaskClub cut shares of BofI (NASDAQ:BOFI) from a buy rating to a hold rating in a report issued on Friday morning.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of BofI from a hold rating to a sell rating in a research note on Friday, October 27th. FBR & Co reiterated a buy rating and set a $36.00 target price (down previously from $37.00) on shares of BofI in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $31.00 target price on shares of BofI in a research note on Monday, October 9th. Craig Hallum reiterated a buy rating and set a $39.00 target price (up previously from $35.00) on shares of BofI in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded shares of BofI from a strong-buy rating to a buy rating in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $34.50.

BofI (NASDAQ BOFI) opened at $26.79 on Friday. The company has a market cap of $1,745.45, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. BofI has a 12 month low of $21.60 and a 12 month high of $32.57.

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

In related news, Director Edward James Ratinoff sold 7,540 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total transaction of $202,072.00. Following the completion of the transaction, the director now owns 29,600 shares in the company, valued at $793,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mosich Nick sold 18,308 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $27.75, for a total transaction of $508,047.00. Following the completion of the transaction, the director now owns 83,018 shares of the company’s stock, valued at approximately $2,303,749.50. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOFI. Teachers Advisors LLC boosted its stake in BofI by 4.3% in the first quarter. Teachers Advisors LLC now owns 103,864 shares of the financial services provider’s stock valued at $2,714,000 after acquiring an additional 4,296 shares in the last quarter. Bank of Montreal Can boosted its stake in BofI by 944.2% in the second quarter. Bank of Montreal Can now owns 22,784 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 20,602 shares in the last quarter. Aperio Group LLC boosted its stake in BofI by 20.6% in the second quarter. Aperio Group LLC now owns 11,738 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 2,007 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in BofI by 5.1% in the second quarter. Russell Investments Group Ltd. now owns 325,769 shares of the financial services provider’s stock valued at $7,727,000 after acquiring an additional 15,880 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in BofI by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,610 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 84.40% of the company’s stock.

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About BofI

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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