Zacks Investment Research lowered shares of BofI (NASDAQ:BOFI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
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 several other reports. UBS cut shares of BofI from a strong-buy rating to an outperform rating in a research note on Monday, April 2nd. Raymond James Financial reiterated an outperform rating and issued a $45.00 target price (up from $42.00) on shares of BofI in a research note on Monday, April 2nd. ValuEngine upgraded shares of BofI from a buy rating to a strong-buy rating in a research note on Thursday, March 1st. BidaskClub upgraded shares of BofI from a hold rating to a buy rating in a research note on Wednesday, December 20th. Finally, Stephens reiterated a buy rating and issued a $39.00 target price on shares of BofI in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. BofI has an average rating of Buy and a consensus target price of $39.75.
NASDAQ BOFI opened at $40.24 on Wednesday. BofI has a 1 year low of $21.60 and a 1 year high of $42.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.15. The company has a market capitalization of $2,569.35, a price-to-earnings ratio of 19.63, a PEG ratio of 1.64 and a beta of 0.36.
BofI (NASDAQ:BOFI) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. BofI had a net margin of 28.37% and a return on equity of 17.27%. The business had revenue of $101.31 million for the quarter, compared to analysts’ expectations of $100.29 million. During the same period in the prior year, the company posted $0.50 EPS. research analysts forecast that BofI will post 2.51 EPS for the current fiscal year.
In other news, Director James John Court sold 9,000 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $40.33, for a total transaction of $362,970.00. Following the sale, the director now owns 28,856 shares in the company, valued at approximately $1,163,762.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.24% of the company’s stock.
Several institutional investors have recently bought and sold shares of BOFI. Earnest Partners LLC purchased a new stake in shares of BofI during the 4th quarter valued at $108,000. Miles Capital Inc. purchased a new stake in shares of BofI during the 4th quarter valued at $207,000. Eqis Capital Management Inc. purchased a new stake in shares of BofI during the 4th quarter valued at $228,000. Jefferies Group LLC purchased a new stake in shares of BofI during the 4th quarter valued at $229,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of BofI during the 4th quarter valued at $246,000. Hedge funds and other institutional investors own 84.96% of the company’s stock.
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BofI Holding, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; and consumer lending products consisting of prime loans to purchase new and used automobiles and recreational vehicles, as well as deposit-related overdraft lines of credit.
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