BofI (BOFI) Lifted to “Strong-Buy” at BidaskClub

BofI (NASDAQ:BOFI) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday, January 3rd.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of BofI from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $30.00 price objective on shares of BofI in a research note on Thursday, October 26th. FBR & Co reiterated a “buy” rating and issued a $36.00 price objective (down previously from $37.00) on shares of BofI in a research note on Thursday, October 26th. Finally, Craig Hallum restated a “buy” rating and set a $39.00 price target (up previously from $35.00) on shares of BofI in a research note on Wednesday, October 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.00.

BofI (BOFI) opened at $31.57 on Wednesday. The stock has a market cap of $2,010.00, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.39. BofI has a one year low of $21.60 and a one year high of $32.57. 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 (NASDAQ:BOFI) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. BofI had a net margin of 29.36% and a return on equity of 17.00%. The company had revenue of $93.89 million during the quarter, compared to analyst estimates of $94.93 million. During the same period in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities research analysts predict that BofI will post 2.46 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of BOFI. Schwab Charles Investment Management Inc. increased its position in BofI by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 253,483 shares of the financial services provider’s stock valued at $6,013,000 after acquiring an additional 11,484 shares in the last quarter. Rhumbline Advisers increased its position in BofI by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 123,573 shares of the financial services provider’s stock valued at $2,931,000 after acquiring an additional 2,276 shares in the last quarter. Bank of New York Mellon Corp increased its position in BofI by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 993,233 shares of the financial services provider’s stock valued at $23,560,000 after acquiring an additional 24,314 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of BofI by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 114,619 shares of the financial services provider’s stock valued at $2,719,000 after purchasing an additional 9,889 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of BofI by 56.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,770 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 6,810 shares during the last quarter. Hedge funds and other institutional investors own 84.35% 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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