Grandeur Peak Global Advisors LLC Raises Holdings in BofI Holding, Inc. (BOFI)
Grandeur Peak Global Advisors LLC grew its position in BofI Holding, Inc. (NASDAQ:BOFI) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,375 shares of the financial services provider’s stock after purchasing an additional 7,825 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.09% of BofI worth $1,633,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Scout Investments Inc. increased its position in BofI by 77.8% in the 2nd 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 position in BofI by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock worth $131,652,000 after purchasing an additional 122,322 shares during the last quarter. Prudential PLC increased its position in BofI by 15.9% in the 2nd quarter. Prudential PLC now owns 718,500 shares of the financial services provider’s stock worth $17,043,000 after purchasing an additional 98,700 shares during the last quarter. JCSD Capital LLC increased its position in BofI by 50.0% in the 2nd quarter. JCSD Capital LLC now owns 105,000 shares of the financial services provider’s stock worth $2,491,000 after purchasing an additional 35,000 shares during the last quarter. Finally, BlackRock Inc. increased its position in BofI by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after purchasing an additional 152,757 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.
In related news, Director Edward James Ratinoff sold 7,540 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $793,280. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mosich Nick sold 18,308 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.75, for a total value of $508,047.00. Following the sale, the director now owns 83,018 shares of the company’s stock, valued at approximately $2,303,749.50. The disclosure for this sale can be found here. Corporate insiders own 6.24% of the company’s stock.
BOFI has been the topic of several research reports. Craig Hallum reaffirmed a “buy” rating and issued a $39.00 target price (up from $35.00) on shares of BofI in a research report on Wednesday, October 4th. FBR & Co reissued a “buy” rating and set a $37.00 price objective on shares of BofI in a report on Friday, September 29th. ValuEngine lowered BofI from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. BidaskClub lowered BofI from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $30.00 price objective on shares of BofI in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.50.
BofI Holding, Inc. (BOFI) opened at $27.42 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $1,760.73, a PE ratio of 13.05, a PEG ratio of 1.18 and a beta of 0.39. BofI Holding, Inc. has a fifty-two week low of $21.60 and a fifty-two week high of $32.57.
BofI (NASDAQ:BOFI) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. BofI had a return on equity of 17.00% and a net margin of 29.36%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. analysts expect that BofI Holding, Inc. will post 2.35 earnings per share for the current year.
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BofI 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, 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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