Brokerages Set BofI Holding, Inc. (BOFI) Target Price at $34.50
BofI Holding, Inc. (NASDAQ:BOFI) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $34.50.
BOFI has been the subject of a number of research analyst reports. Craig Hallum reaffirmed a “buy” rating and set a $39.00 price target (up from $35.00) on shares of BofI in a research report on Wednesday, October 4th. FBR & Co reaffirmed a “buy” rating and set a $37.00 price target on shares of BofI in a research report on Friday, September 29th. ValuEngine downgraded BofI from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded BofI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 price target on shares of BofI in a research report on Thursday, October 26th.
BofI (BOFI) traded up $0.97 during mid-day trading on Friday, hitting $26.88. The stock had a trading volume of 416,300 shares, compared to its average volume of 768,218. BofI has a 52 week low of $21.60 and a 52 week high of $32.57. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1,637.87, a price-to-earnings ratio of 12.14, a PEG ratio of 1.08 and a beta of 0.40.
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, beating the Zacks’ consensus estimate of $0.49 by $0.01. BofI had a return on equity of 17.00% and a net margin of 29.36%. The company had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. During the same quarter last year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. research analysts expect that BofI will post 2.38 EPS for the current year.
In related news, Director Edward James Ratinoff sold 7,540 shares of BofI stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $26.80, for a total transaction of $202,072.00. Following the completion of the sale, the director now owns 29,600 shares of the company’s stock, valued at $793,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.24% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Scout Investments Inc. lifted its stake in BofI by 77.8% during the second quarter. Scout Investments Inc. now owns 116,400 shares of the financial services provider’s stock worth $2,761,000 after purchasing an additional 50,950 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BofI by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock worth $131,652,000 after buying an additional 122,322 shares during the period. Prudential PLC increased its holdings in shares of BofI by 15.9% in the second quarter. Prudential PLC now owns 718,500 shares of the financial services provider’s stock worth $17,043,000 after buying an additional 98,700 shares during the period. JCSD Capital LLC increased its holdings in shares of BofI by 50.0% in the second quarter. JCSD Capital LLC now owns 105,000 shares of the financial services provider’s stock worth $2,491,000 after buying an additional 35,000 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of BofI by 2.1% in the second quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after buying an additional 152,757 shares during the period. 84.40% of the stock is owned by institutional investors.
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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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