BofI (NASDAQ:BOFI) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of BofI (NASDAQ:BOFI) from a hold rating to a buy rating in a report published on Wednesday, December 20th.

Several other analysts also recently weighed in on the company. FBR & Co restated a buy rating and issued a $36.00 price target (down previously from $37.00) on shares of BofI in a research note on Thursday, October 26th. Keefe, Bruyette & Woods restated a market perform rating and issued a $31.00 price target on shares of BofI in a research note on Monday, October 9th. ValuEngine downgraded BofI from a strong-buy rating to a buy rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded BofI from a sell rating to a hold rating in a research note on Monday, December 4th. Finally, Craig Hallum reiterated a buy rating and set a $39.00 target price (up 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 given a buy rating and two have assigned a strong buy rating to the company. BofI currently has an average rating of Buy and an average target price of $35.00.

BofI (BOFI) traded down $0.18 on Wednesday, reaching $31.57. The company’s stock had a trading volume of 697,672 shares, compared to its average volume of 654,067. The company has a market cap of $2,010.00, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.29 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 fifty-two week low of $21.60 and a fifty-two week high of $32.57.

BofI (NASDAQ:BOFI) last posted its 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 return on equity of 17.00% and a net margin of 29.36%. The firm had revenue of $93.89 million for the quarter, compared to the consensus estimate of $94.93 million. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. analysts anticipate 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 stock was sold at an average price of $27.75, for a total transaction of $508,047.00. Following the transaction, the director now directly owns 83,018 shares of the company’s stock, valued at approximately $2,303,749.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward James Ratinoff sold 7,540 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now directly owns 29,600 shares in the company, valued at $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 have recently made changes to their positions in BOFI. Aurora Investment Counsel bought a new stake in BofI during the fourth quarter valued at about $2,809,000. Sterling Capital Management LLC bought a new stake in BofI during the third quarter valued at about $855,000. Grandeur Peak Global Advisors LLC raised its holdings in BofI by 15.8% during the third quarter. Grandeur Peak Global Advisors LLC now owns 57,375 shares of the financial services provider’s stock valued at $1,633,000 after acquiring an additional 7,825 shares during the period. Stifel Financial Corp raised its holdings in BofI by 9.9% during the third quarter. Stifel Financial Corp now owns 246,488 shares of the financial services provider’s stock valued at $6,996,000 after acquiring an additional 22,301 shares during the period. Finally, OxFORD Asset Management LLP bought a new stake in BofI during the third quarter valued at about $5,993,000. 84.35% of the stock is currently owned by institutional investors.

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BofI 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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