BofI Holding Inc. (BOFI) Rating Increased to Buy at Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $25.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.79% from the company’s current price.
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. “
A number of other equities research analysts have also issued reports on BOFI. Vetr lowered shares of BofI Holding from a “strong-buy” rating to a “buy” rating and set a $19.48 price objective for the company. in a report on Thursday, June 23rd. FBR & Co reissued a “buy” rating and issued a $33.00 price objective on shares of BofI Holding in a report on Thursday, August 4th. Finally, DA Davidson reissued a “buy” rating on shares of BofI Holding in a report on Tuesday, August 23rd. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.24.
BofI Holding (NASDAQ:BOFI) opened at 21.97 on Tuesday. BofI Holding has a 12 month low of $13.47 and a 12 month high of $35.98. The stock has a 50 day moving average of $20.40 and a 200-day moving average of $19.04. The stock has a market cap of $1.39 billion, a P/E ratio of 11.88 and a beta of 0.22.
BofI Holding (NASDAQ:BOFI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. BofI Holding had a net margin of 31.02% and a return on equity of 19.02%. During the same period last year, the company earned $1.54 earnings per share. On average, equities analysts forecast that BofI Holding will post $2.14 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AXA boosted its position in BofI Holding by 100.0% in the first quarter. AXA now owns 110,400 shares of the company’s stock worth $2,356,000 after buying an additional 55,200 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in BofI Holding by 314.3% in the first quarter. UBS Asset Management Americas Inc. now owns 125,951 shares of the company’s stock worth $2,688,000 after buying an additional 95,551 shares during the last quarter. State Street Corp boosted its position in BofI Holding by 1.4% in the first quarter. State Street Corp now owns 1,163,813 shares of the company’s stock worth $24,836,000 after buying an additional 16,095 shares during the last quarter. Royce & Associates LP bought a new position in BofI Holding during the first quarter worth approximately $363,000. Finally, TimesSquare Capital Management LLC boosted its position in BofI Holding by 4.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,513,595 shares of the company’s stock worth $53,640,000 after buying an additional 96,515 shares during the last quarter. 94.29% of the stock is currently owned by institutional investors.
BofI Holding 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, distribution channels and affinity partners. The Bank has deposit and loan customers across the nation, 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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