New York State Common Retirement Fund trimmed its position in shares of BofI Holding, Inc. (NASDAQ:BOFI) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,000 shares of the financial services provider’s stock after selling 17,741 shares during the period. New York State Common Retirement Fund owned about 0.10% of BofI worth $2,634,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of BofI by 7.0% during the 1st quarter. JPMorgan Chase & Co. now owns 702,269 shares of the financial services provider’s stock valued at $28,463,000 after buying an additional 46,008 shares in the last quarter. Scout Investments Inc. raised its holdings in shares of BofI by 8.3% during the 1st quarter. Scout Investments Inc. now owns 131,550 shares of the financial services provider’s stock valued at $5,332,000 after buying an additional 10,100 shares in the last quarter. BlackRock Inc. raised its holdings in shares of BofI by 3.7% during the 1st quarter. BlackRock Inc. now owns 8,225,770 shares of the financial services provider’s stock valued at $333,391,000 after buying an additional 296,440 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of BofI during the 1st quarter valued at about $202,000. Finally, Systematic Financial Management LP purchased a new position in shares of BofI during the 1st quarter valued at about $1,431,000. 78.03% of the stock is currently owned by institutional investors.
BofI opened at $42.93 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.20. BofI Holding, Inc. has a 1 year low of $22.71 and a 1 year high of $45.18. The company has a market cap of $2.72 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.74 and a beta of 0.31.
BofI (NASDAQ:BOFI) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. BofI had a return on equity of 17.85% and a net margin of 28.25%. The business had revenue of $140.21 million for the quarter, compared to analyst estimates of $134.80 million. During the same period last year, the company earned $0.63 EPS. research analysts forecast that BofI Holding, Inc. will post 2.51 earnings per share for the current fiscal year.
In related news, Director John Gary Burke sold 57,539 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $41.16, for a total transaction of $2,368,305.24. Following the transaction, the director now directly owns 1,809,856 shares in the company, valued at approximately $74,493,672.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.24% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on BOFI shares. B. Riley raised their price objective on BofI from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. BidaskClub raised BofI from a “buy” rating to a “strong-buy” rating in a report on Saturday. ValuEngine raised BofI from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Zacks Investment Research cut BofI from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Finally, UBS Group cut BofI from a “strong-buy” rating to an “outperform” rating in a report on Monday, April 2nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $41.60.
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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