BofI Holding Inc. (BOFI) Stock Rating Lowered by Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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 analysts have also recently weighed in on BOFI. FBR & Co restated a “buy” rating and issued a $33.00 price target on shares of BofI Holding in a report on Thursday, August 4th. Vetr cut BofI Holding from a “strong-buy” rating to a “buy” rating and set a $19.48 price target for the company. in a report on Thursday, June 30th. Finally, DA Davidson restated a “buy” rating on shares of BofI Holding in a report on Tuesday, August 23rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.24.
BofI Holding (NASDAQ:BOFI) opened at 22.83 on Tuesday. The stock has a 50 day moving average of $21.66 and a 200-day moving average of $19.29. The firm has a market capitalization of $1.44 billion, a PE ratio of 12.34 and a beta of 0.13. BofI Holding has a one year low of $13.47 and a one year high of $35.98.
BofI Holding (NASDAQ:BOFI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.46. BofI Holding had a return on equity of 19.02% and a net margin of 31.02%. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, equities analysts predict that BofI Holding will post $2.14 EPS for the current year.
Large investors have recently bought and sold shares of the stock. PineBridge Investments L.P. raised its stake in BofI Holding by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,277 shares of the company’s stock valued at $128,000 after buying an additional 269 shares in the last quarter. Endurance Wealth Management Inc. raised its stake in BofI Holding by 32.8% in the second quarter. Endurance Wealth Management Inc. now owns 7,284 shares of the company’s stock valued at $129,000 after buying an additional 1,800 shares in the last quarter. Teacher Retirement System of Texas raised its stake in BofI Holding by 21.1% in the second quarter. Teacher Retirement System of Texas now owns 7,895 shares of the company’s stock valued at $140,000 after buying an additional 1,373 shares in the last quarter. BlackRock Inc. raised its stake in BofI Holding by 74.6% in the second quarter. BlackRock Inc. now owns 8,084 shares of the company’s stock valued at $144,000 after buying an additional 3,455 shares in the last quarter. Finally, Mount Lucas Management LP raised its stake in BofI Holding by 10.3% in the first quarter. Mount Lucas Management LP now owns 8,161 shares of the company’s stock valued at $174,000 after buying an additional 763 shares in the last quarter. 94.29% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BofI Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BofI Holding Inc. and related companies with MarketBeat.com's FREE daily email newsletter.